The minutes of the Fed's July monetary policy meeting showed most policymakers continue to prioritize the battle against inflation, adding to uncertainty among investors about the outlook for interest rates.
Bank shares extended losses, with the S&P 500 bank index <.SPXBK> down 1% and Bank of America (BAC.N) leading losses among bigger banks to end 2.2% lower.
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023.
Equities have suffered through a rough patch in August, with the S&P 500 languishing near one-month lows as data underscoring sticky inflation and a robust economy fans fears of interest rates staying elevated for longer.
The S&P 500 posted four new 52-week highs and 18 new lows; the Nasdaq Composite recorded 36 new highs and 255 new lows.
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