US stocks down following Fed meeting minutes

The Dow Jones Industrial Average fell 0.58%, or 244 points, to close at 42,098 points.

The broader S&P 500 index declined by 0.56%, or 32 points, to 5,888 points, while the Nasdaq Composite dropped 0.51%, or 98 points, to 19,100 points.

In Europe, the Stoxx Europe 600 index decreased by 0.6% to 548 points, despite a 0.70% gain in the auto sector.

Germany’s DAX index fell 0.80% to 24,038 points, France’s CAC dropped 0.50% to 7,788 points, and the UK’s FTSE declined 0.60% to 8,726 points.

The Nikkei 225 and Topix indices were little changed, closing at 37,722 and 2,769 points, respectively, after touching intraday highs of 38,178 and 2,797 points.

Brent crude futures for July delivery rose by 1.26%, or 81 cents, to settle at $64.90 per barrel.

US West Texas Intermediate (WTI) crude futures for July delivery climbed by 1.56%, or 95 cents, to $61.84 per barrel.

June futures for the yellow metal fell by 0.16%, or $5.50, to $3,294.90 per ounce.

In this month’s meeting, the members of the Federal Open Market Committee (FOMC) reaffirmed the continued momentum in economic activity and the strength of the labor market.

However, they warned of growing risks of a recession due to trade disruptions, which could threaten the Fed’s ability to reduce inflation and maintain full employment.