Home » Stocks finish lower for second day, Nasdaq sheds 2.2% as Fed minutes detail rapid balance sheet reduction plan
U.S. stocks booked a second straight day of losses Wednesday as investors digested minutes of the Federal Reserve’s March meeting that detailed aggressive plans to shrink its nearly $9 trillion balance sheet.
The minutes also left the door open to more than one half-percentage point interest rate increase and put outright sales of its mortgage bond holding on the table.
The Dow Jones Industrial Average DJIA
fell 144.67 points, or 0.4%, ending at 34,496.51.
The S&P 500
shed 43.97 points, or 1%, closing at 4,481.15
The Nasdaq Composite
dropped 315.35 points, or 2.2%, finishing at 13,888.82.
What drove markets
Stocks added to weekly declines Wednesday after the release of minutes of the last Fed policy meeting outlined plans to reduce the central bank’s record-size balance sheet at the fastest clip on record.
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