Stocks on Wall Street fell on Wednesday on receding hopes of a U.S.-China trade deal and minutes from the Federal Reserve’s October policy offered little relief
- Wall Street’s main indexes were lower on Wednesday on concerns that a “phase one” trade deal between Washington and Beijing may not be completed this year, and minutes from the Federal Reserve’s October policy meeting offered little help.
The S&P 500 basically held steady after the minutes, released at 1400 PM EST offered little guidance on what would cause policymakers to change their outlook. At the meeting, the Fed decided on the third interest rate cut of 2019 and signaled it was done with the easing. “We have a December 15 deadline Trump has set for tariffs to go higher. The hope has been in the market that a phase 1 deal would be done before that. It brings into the realm of probability that those tariffs would come into effect,” said Scott Ladner, chief investment officer at Horizon Investments in Charlotte.
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