The Dow Jones Industrial Average closed 85.19 points lower, or 0.31%, to 27,692.88, the S&P 500 lost 14.93 points, or 0.44%, to 3,374.85 and the Nasdaq Composite dropped 64.38 points, or 0.57%, to 11,146.46. Earlier in the session, the S&P 500 hit an intraday record of 3,399.54 and Nasdaq of 11,257.422.
NEW YORK: Wall Street finished lower on Wednesday after the Federal Reserve raised concerns that the U.S. economic recovery from the devastating effects of the pandemic faced a highly uncertain path.
In the minutes of the July Fed meeting, the policy committee said that the swift rebound in employment seen in May and June had likely slowed and that additional "substantial improvement" in the labor market would hinge on a "broad and sustained" reopening of business activity.
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