US stocks end mixed after Fed minutes

By Ovunc Kutlu

ISTANBUL (AA) – Major US stock indexes closed mixed Wednesday after the release of the Federal Reserve's meeting minutes.

The Dow Jones Industrial Average was down 84.50 points, or 0.26%, to finish the day at 33,045.09. The S&P 500 fell 6.29 points, or 0.16%, to 3,991.05.

The Nasdaq, on the other hand, added 14.77 points, or 0.13%, to close at 11,507.07.

Fed officials want to see more proof of easing inflation to make sure prices are on a falling trend, according to the Federal Open Market Committee's (FOMC) minutes released from its last two-day meeting that concluded on Feb. 1 when the central bank raised its benchmark interest rate 25 basis points.

Although this was a slowdown from 50 basis points in December that followed four consecutive rate hikes of 75 basis points, Fed officials could vote for more rate hikes this year as the minutes noted that FOMC participants "continued to anticipate that ongoing increases in the target range for the federal funds rate would be appropriate."

The VIX volatility index, also known as the fear index, was down 2.6% to 22.27. The 10-year US Treasury yield, meanwhile, fell 0.95% to 3.916%.

The dollar index was up 0.36% to 104.55, while the euro shed 0.4% to $1.0603 against the greenback.

Precious metals were in negative territory, with gold decreasing 0.5% to $1,826 an ounce and silver trimming 1.5% to $21.51.

Crude oil prices were down more than 3%, with global benchmark Brent crude at $80.49 per barrel and US benchmark West Texas Intermediate crude at $73.92.