Dow Drops 245 Points as Fed Minutes Spook Wall Street
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U.S. stocks closed lower on Wednesday after the Federal Reserve released cautious minutes from its May policy meeting. The Dow Jones Industrial Average fell 0.58%, while the S&P 500 and Nasdaq Composite dropped 0.56% and 0.51%, respectively. The central bank warned of ’difficult tradeoffs’ if inflation persists amid weakening growth and employment outlooks.
Meanwhile, President TRUMP dismissed criticism of his trade negotiation tactics, asserting delayed tariff implementations are strategic. Strong earnings from retailers like Abercrombie & Fitch (+14%) signaled resilient consumer spending.
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