U.S. indices are down in premarket trading as Wall Street’s record-breaking rally appeared to lose some steam despite strong quarterly performances from high-profile companies

U.S. stock indexes barely budged after a quiet day of mixed trading on Tuesday. The S&P 500 edged down by less than 0.1%. It was a tiny loss, but it still marked the first back-to-back drop for the index in a month and a half.

European markets are mixed at last check, as investors unpack the European Central Bank’s (ECB) back-to-back interest rate cut. London’s FTSE 100 is down 0.2%, while the French CAC 40 rises 0.7%, and the German DAX adds 0.3%.