Wall Street closes lower after Fed’s minutes revealed
Bank to begin reducing balance sheet
By Ovunc Kutlu
NEW YORK (AA) - Wall Street closed lower Wednesday after the minutes from the latest Federal Reserve meeting showed the bank will start reducing its $4.5 trillion portfolio this year.
The Dow fell 41 points to end the day at 20,648 and the S&P 500 lost seven points to 2,352.
The Nasdaq decreased 34 points to finish at 5,864.
The Fed’s balance sheet includes government bonds and mortgage securities that were mostly acquired during and after the 2007 financial crisis.
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