Stocks end slightly lower after Fed minutes

Stocks end slightly lower after Fed minutes

Stocks ended slightly lower Wednesday after minutes from the Federal Reserve’s September meeting highlighted the central bank’s willingness to raise rates until the economy slowed. The S&P 500 SPX, -0.03% ended with a loss of less than 0.1% at around 2,809, according to preliminary figures. Dow Jones Industrial Average DJIA, -0.36% finished lower by 92 points, or 0.4%, to around 25,707, after having fallen by more than 300 points earlier in the day. The Nasdaq Composite Index COMP, -0.04% fell 3 points, or less than 0.1%, to around 7,643. Minutes from the September meeting of the Federal Open Market Committee, the central bank’s rate-setting group, showed Fed officials were in favor of pushing rates into restrictive territory. Equity investors are fearful over the prospect of higher borrowing costs after a surge in Treasury yields to multiyear highs helped send stocks lower last week. Shares of Netflix Inc. NFLX, +5.29% were up 5.6% after the streaming service beat expectations in third-quarter earnings.

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