Wall Street slid from the previous session's record highs and the dollar steadied on Friday as the market knuckled down to the start of a rate reducing cycle that began with a mid-week jumbo cut by the U.

Wall Street romped to records as a delayed jubilation swept markets worldwide following the Federal Reserve’s big cut to interest rates.

Asian markets rose Friday to build on the latest global rally after a jumbo US interest rate cut this week, while the yen reversed earlier gains after the Bank of Japan decided against another hike.