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Dow snaps 4-session win streak after Fed minutes show concerns about banking stress, recession

Clyde Edgerton by Clyde Edgerton
April 12, 2023
in Markets
Dow snaps 4-session win streak after Fed minutes show concerns about banking stress, recession
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U.S. stocks erased earlier gains to end lower Wednesday after the release of Federal Reserve minutes of its March policy meeting pointed to concerns about stress in the banking sector and a coming recession. The Dow Jones Industrial Average DJIA fell about 37 points, or 0.1%, ending near 33,647 and snapping a 4-session win streak, according to preliminary FactSet data. The S&P 500 index SPX shed 0.4% and the Nasdaq Composite Index COMP closed 0.9% lower. It was a volatile day of trade, with the S&P 500 swinging nearly 50 points from its intraday high to low, its biggest such intraday move in roughly three weeks, according…

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