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Nikola ( NKLA ) falls after filing for bankruptcy protection

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Analog Devices ( ADI ) gains after Q1 results beat estimates

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Indexes down: Dow 0.32%, S&P 500 0.05%, Nasdaq 0.12%

(Updates with afternoon trading levels)

By Shashwat Chauhan and Sukriti Gupta

Feb 19 (Reuters) - Wall Street's main indexes slipped

and the S&P 500 came off record highs on Wednesday as U.S.

President Donald Trump's latest tariff threats raised the

specter of higher inflation and markets awaited minutes from the

central bank's January meeting.

Trump said on Tuesday that he intended to impose auto

tariffs "in the neighborhood of 25%", along with similar duties

on semiconductor and pharmaceutical imports.

Since his inauguration in January, Trump has imposed a 10%

tariff on all imports from China, on top of existing levies. He

also announced and subsequently delayed for a month 25% duties

on goods from Mexico and non-energy imports from Canada.

Bob Savage, head of markets strategy and insights at

BNY, said the blame for declining equities "goes back to Trump

tariff talk".

"But, the underlying logic of investors remains that

tariffs are likely delayed and negotiated and so you can't trade

what you don't know."

Trump's tariffs have raised concerns, with fears that they

would fuel domestic inflation and weigh on the Fed's stance on

rate cuts this year.

Minutes from the U.S. central bank's January policy meeting

- where voting members elected to let interest rates stand and

Fed Chair Jerome Powell said there would be no rush to cut them

again until inflation and jobs data made it appropriate - are

scheduled to be released at 2 p.m. ET.

Investors will look for clues on the Fed's rate plans for

the year in the minutes, in light of last week's mixed consumer

and producer prices data, coupled with a sharp drop in retail

sales, which had sent Treasury yields lower.

Traders currently see at least one 25-basis-point rate cut

and a more than 47% chance of an additional lowering by

December, according to LSEG data.

At 11:20 a.m. ET, the Dow Jones Industrial Average

fell 141.25 points, or 0.32%, to 44,415.09, the S&P 500

lost 2.87 points, or 0.05%, to 6,126.77, and the Nasdaq

Composite fell 23.28 points, or 0.12%, to 20,017.98.

Seven of the S&P 500's 11 sectors traded lower, with

materials leading declines with a 1.3% fall, while

energy was the highest gainer with a 1.1% rise.

Nikola ( NKLA ) plunged 39% after the EV maker said it had

filed for Chapter 11 bankruptcy protection.

Specialty chemicals company Celanese slid 22.2% after

reporting a quarterly loss.

Etsy ( ETSY ) lost 10.7% after the online marketplace

missed Wall Street

estimates

for holiday-quarter revenue and gross merchandise sales.

U.S.-listed shares of Garmin jumped 13% after the

Swiss navigation device maker forecast full-year results above

estimates.

Analog Devices ( ADI ) gained 5.5% after the chipmaker beat

first-quarter profit and revenue estimates.

Retail giant Walmart's ( WMT ) results, a bellwether for

how the American consumer is faring, are due later this week.

Declining issues outnumbered advancers by a 1.77-to-1 ratio

on the NYSE, and by a 1.49-to-1 ratio on the Nasdaq.

The S&P 500 posted 15 new 52-week highs and five new

lows, while the Nasdaq Composite recorded 58 new highs and 87

new lows.