Dow drops 245 points as Fed minutes spooks Wall Street

American actions later closed Wednesday after the Federal Reserve published the minutes of its political meeting in May.

The industrial average of Dow Jones lost 0.58%, or 245 points, while the composite indices S&P 500 and Nasdaq dropped by 0.56%and 0.51%, respectively. The central bank’s minutes have indicated a cautious approach to monetary policy and warned against the “difficult compromises” to come if inflation persists.

“Participants have agreed that uncertainty about economic prospects had further increased, which makes a cautious approach appropriate until the net economic effects of the range of changes to government policies become clearer”, a transcription of the CNBC read from the minutes. “Participants noted that the Committee could be confronted with difficult compromises if inflation is more persistent while growth and employment prospects are weakening.”

In commercial negotiations, US President Donald Trump pushed a columnist for the Financial Times who invented the term “tacos trade” or Trump still chickens, a reference to the president’s trend to delay the implementation of prices. Trump said his tactics were part of a negotiation strategy and that business partners and the European Union are eager to conclude agreements.

Meanwhile, strong income from the main retailers have indicated that consumption expenditure remains robust. The actions of Abercrombie & Fitch Co. won 14% after the company declared powerful results of the first quarter and guided for net growth of the full year from 3% to 6%. On the other hand, HP shares plunged 15% after missing profits and issuing a disappointing perspective due to the “additional costs” of prices.

NVIDIA actions increased above in prolonged exchanges after having displayed a beat up and down. The company declared a 96 cents BPA on revenues of $ 44.06 billion, exceeding estimates of 93 cents per share and 43.31 billion dollars. The income from the data center increased by 73% in annual shift, although the company has missed $ 2.5 billion in sales due to export restrictions on china. The gross margin of the quarter was 61%, which would have been 71.3% without the new charges linked to China.