Wall Street eased from record highs after Walmart forecasted slower sales, and saw its stock drop. The outlook raised concerns about consumer spending and economic growth, while investors also assessed signals from the Federal Reserve and trade policy uncertainties.

Wall Street is retreating from its record as a slide for Walmart weighs on U.S. stock indexes Thursday. The S&P 500 was down 0.6% in morning trading after setting all-time highs in each of the last two days.