Several Federal Reserve monetary policymakers wanted to announce last month exactly when they would start reducing the central bank's trillions of dollars in assets, but most preferred to wait to see how the economy and financial markets were doing over the summer, according to an account of the meeting released Wednesday. Investors also responded to solid economic data, including a better-than-expected report on retail sales on Tuesday.
At 13:04 p.m. ET (1704 GMT), the Dow Jones Industrial Average was down 177.97 points, or 0.81 percent, at 21,846.9 and the S&P 500 was down 25.38 points, or 1.03 percent, at 2,442.73.
According to Reuters, financial markets with depressed bond yields and record high stock indexes, as we are now seeing in the United States, give approximately a 40 percent chance of a rate hike before the end of the year.
At 11 a.m. (1500 GMT), the benchmark 10-year Treasury yield was 2.261 percent, down half a basis point from late Tuesday, while the 30-year yield was 2.832 percent, down almost 1 basis point from Tuesday's close, Reuters data showed.
US stocks pared gains on Wednesday amid signs that a fissure was developing on the Federal Reserve's policy-setting board.
Launch of NASA's CRS-12 on SpaceX Falcon 9
Elon Musk's SpaceX CRS-12 reusable rocket has been selected to launch the Dragon Spacecraft that will house the supercomputers . About five hours after Dragon leaves the space station, it will conduct its deorbit burn, which lasts up to 10 minutes.
London copper CMCU3 gained 0.2 percent to $6,545 a tonne, after hitting $6,580, its highest level since November 2014, earlier in the session.
- The U.K.'s FTSE 100 index surged 0.7 percent.
Treasury yields reached one-week peaks earlier Wednesday in line with their European counterparts on stronger-than-forecast annual growth in the eurozone.
Most Asian currencies rose overnight, with the Korean won up 0.3% after tension over North Korea continued to ease.
United States gold futures for December delivery were down about 0.4 per cent at $1,274.90 an ounce.
Oil prices fell more than 1 percent on Wednesday even though USA crude stockpiles declined by the most in a year, as data suggesting domestic production was edging higher stoked worries about the global crude glut.