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Stocks Retrench After Fed as Tech Resumes Selloff: Markets Wrap

  • Fed minutes note it may be appropriate to slow increases
  • Two-yields trim surge after minutes, dollar pares gain
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WATCH: Isaac Poole, global chief investment officer at Oreana Financial Services, shares his views on whether recession is necessary to rein in inflation or not. He also discusses central banks’ policies, economies and markets.

Source: Bloomberg
Updated on

US stocks fell for the first time in four days as investors assessed the outlook for the path of interest-rate hikes after minutes from the Federal Reserve’s last meeting noted officials saw risks from tightening more than necessary. 

The S&P 500 Index ended back at levels near the release of Fed minutes as the tech-heavy Nasdaq 100 resumed declines, dropping more than 1%. Minutes of the July 26-27 meeting noted the need to eventually dial back the pace of rate hikes but also the desire to gauge how their monetary tightening was working toward curbing inflation.