On Wednesday, U.S. stocks experienced a decline as concerns over ongoing inflation were highlighted in the Federal Reserve’s May meeting minutes, suggesting that the central bank would delay cutting interest rates.
A decrease of 201.95 points, or 0.51%, saw the Dow Jones Industrial Average close at 39,671.004.
This May’s session was the worst for the 30-stock index. Both the Nasdaq Composite and the S&P 500 saw losses of 0.18% and 0.27%, respectively, to close at 16,801.54 and 5,307.01, respectively.
There hasn’t been much success in lowering inflation in recent months, according to minutes of the Federal Open Market Committee’s policy meeting from April 30 to May 1.
A willingness to raise rates if inflation did not continue to decline and approach the 2% target was also mentioned by “various participants” in the minutes.
Source (CNBC)
