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Wall Street closed negative but far from lows after FOMC minutes

FXStreet (San Francisco) - The US stocks market closed sightly negative on Wednesday as investors digested the FOMC minutes and reached all-time highs.

Major indexes started the day with losses but rebounded throughout the session. After the minutes, indexes rose to maximums before returning to close with small declines. The Russell 2000 ended the day with a great fall.

The minutes showed the Federal Reserve is concerned about disinflation. Overall a pessimistic stench in the statement; however, the feeling is that the Fed is saying they will not hike rates soon.

The Russell 2000 declined 12.60 points or 1.08% before closing at 1,157.69. The Russell is now 0.51% negative YTD. The Nasdaq Composite dropped 26.73 points or 0.57% to finish at 4,675.71.

The Dow Jones eased 2.09 pts or 0.01% to end at 17,685.73; while the S&P 500 lost 3.08 pts or 0.15% to 2,048.72.

The Oil attempted to recover above the 75.00 level but it failed and returned to lows before closing at 74.45. The gold lost all previous session gains and closed at 1,183.

Elementary, my dear Watson; It's simply a matter of inflation - FXStreet

Valeria Bednarik, chief analyst at FXStreet, explained that the world is worried about low inflation, and the FED is no exception.
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