The stock market broadly has been rising faster than corporate profits, which raises the volume on criticism from skeptics that it’s gotten too expensive. The S&P 500 is still up nearly 25% for the year so far, on top of last year’s leap of 24.2%.

Asian stocks on Wednesday followed Wall Street lower as momentum cooled for the torrid “Trump trade” that swept U.S. markets following Donald Trump’s presidential victory.

Ahead of the opening bell, the Bureau of Labor Statistics said the Producer Price Index (PPI), which measures what businesses are paying subscribers for goods, increased 0.2% month over month in October. Year over year, the headline PPI was up 2.4% – the quickest pace since July.

Indexes slipped as traders zeroed in on remarks from Fed Chair Jerome Powell, who said the central bank is in no hurry to cut rates amid a strong economy.