NEW YORK — U.S. stocks are edging down from their records. The S&P 500 slipped 0.3% in early Thursday trading. The Dow Jones Industrial Average was down 65 points after likewise setting an all-time high the day before. The Nasdaq composite fell 0.5%. Delta Air Lines sank after reporting weaker results for the summer than expected.
The Fed has just begun cutting interest rates from a two-decade high, as it widens its focus to include keeping the economy humming instead of just fighting high inflation. In Asia, Japan's benchmark Nikkei 225 edged up 0.3% to finish at 39,380.89. Australia's S&P/ASX 200 rose 0.4% to 8,223.00. South Korea's Kospi added 0.2% to 2,599.16.
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