Wall Street ends lower after Fed minutes cloud outlook for rates

Wall Street ended lower on Wednesday after the Federal Reserve’s minutes showed central bank officials were divided over the need for more interest rate hikes at their last meeting.

The minutes of the Fed’s July monetary policy meeting showed most policymakers continue to prioritize the battle against inflation, adding to uncertainty among investors about the outlook for interest rates.

As a result, the S&P 500 lost 0.76%, the Nasdaq Composite dropped 1.15%, while the Dow Jones Industrial Average fell 0.52%.