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S&P 500 Ends Lower After Fed Minutes

INTERNATIONAL: The benchmark S&P 500 fell on Wednesday (April 6), with steep declines in tech and other growth stocks, after minutes from the Federal Reserve's March meeting sharpened investors' focus on the U.S. central bank's plans to fight inflation.

Fed officials "generally agreed" last month to trim $60 billion per month from the bank's Treasury holdings and $35 billion from its holdings of mortgage-backed securities, with the amounts phased in over three months "or modestly longer," according to the March 15-16 policy meeting minutes.

"The Federal Reserve is very clearly going to be focused like a laser on getting inflationary pressures down." said Michael Jones, Chairman and CEO at Caravel Concepts.

The S&P 500 lost 43.97 points, or 0.97%, to end at 4,481.15 points, while the Nasdaq Composite lost 315.35 points, or 2.22%, to 13,888.81.

The Dow Jones Industrial Average fell 144.67 points, or 0.42%, to 34,496.51.



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