Stocks fell broadly on Wall Street in afternoon trading Thursday after the minutes from the Federal Reserve’s last meeting of policymakers signaled increasing concerns about inflation.
The S&P 500 fell 1.3%, and the tech-heavy Nasdaq pulled back 2.7%. The Dow Jones Industrial Average of 30 blue-chip companies slid 0.4%, slipping below the record high it set a day earlier.
Technology stocks accounted for a big share of the slide.
Bond yields rose after the Fed minutes came out.
The yield on the 10-year Treasury note rose to 1.70% soon after the minutes were released, from 1.68% just before.