Wall Street wavered near its records after

NEW YORK — Wall Street wavered near its records after the Federal Reserve kicked off its efforts to prevent a recession with a bigger-than usual cut to interest rates.

The S&P 500 slipped 0.3% Wednesday after a day of bobbing higher and lower.

The Dow Jones Industrial Average fell 0.2%, and the Nasdaq composite gave back 0.3%.

Because the Fed's first cut to interest rates in four years was so well telegraphed, and markets had already moved so much in anticipation of it, Wall Street's reactions weren't that big despite the momentous move by the Fed.

Treasury yields edged higher.