U.S. stocks were slightly lower on Wednesday after President Donald Trump's latest comments fueled skepticism over U.S.-China trade talks and ahead of a Federal Reserve report that could indicate the pace of future rate hikes.
Trump signaled a new direction for the trade talks, saying the current track appeared “too hard to get done”, a day after telling reporters that he was not pleased with the recent talks.
U.S. Treasury Secretary Steven Mnuchin’s announcement over the weekend that the two countries had put the prospect of a trade war “on hold” had raised expectations that the world’s two largest economies would be able to avert a damaging trade war.
Dow Jones Industrial Average was down 98.77 points, or 0.40 percent, at 24,735.64, the S&P 500 was down 7.61 points, or 0.28 percent, at 2,716.83 and the Nasdaq Composite was down 12.11 points, or 0.16 percent, at 7,366.35.
U.S. 10-year Treasury yield fell to a six-day low. Of the 11 major S&P sectors, only utilities, real estate and healthcare were higher.