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.

A sharp slide for Walmart on Thursday helped pull Wall Street off of its record. The Standard & Poor's 500 slipped 0.4% for its first drop after setting all-time highs in each of the last two days. The Dow Jones industrial average lost 1%,