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8/17, 1:55 PM (Source: TeleTrader)
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US extends losses ahead of session, Fed minutes in focus

Major stocks on Wall Street expanded losses near the start of Wednesday's session as investors awaited highlights of the last Federal Reserve meeting that should provide more details on the United States' economic outlook.

Yesterday, President Joe Biden signed the inflation reduction bill into law, widely considered the country's largest climate package to date. The session ahead will also be marked by another batch of economic data and second-quarter corporate earnings.

The Dow Jones plunged 0.63% or 212 points at 7:54 am ET, while the Nasdaq 100 tumbled 0.94% or 128 points, and the S&P 500 declined by 0.86%. The euro stood flat against the dollar a minute later to sell for 1.01643.

Baha Breaking News (BBN) / ND