8/17, 10:03 PM (Source: TeleTrader)
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US markets close lower following FOMC minutes

Major US stock markets closed lower on Wednesday following the release of the minutes of the Federal Open Market Committee (FOMC) meeting.

According to the document published today, the United States Federal Reserve believes interest rate hikes will persist until inflation slows substantially. Moreover, some policymakers highlighted "the strength of the labor market" while suggesting that economic activity may be stronger than implied by the current GDP data."

The Dow Jones lost 171 points or 0.50% at 4:00 pm ET, with Boeing sinking by 2.85%. The Nasdaq 100 fell 1.21%, while Zoom Video decreased by 6.24%. The S&P 500 declined 0.72%, as Jack Henry&Associates dropped by 6.39%.

The euro improved by 0.07% against the dollar at 3:57 pm ET, selling for $1.01815.

Baha Breaking News (BBN) / JG