U.S. stocks closed lower on Thursday as investors digested the minutes of Federal Reserve's latest monetary policy meeting as well as a batch of key economic data.
The Dow Jones Industrial Average fell 76.62 points, or 0.30 percent, to 25,656.98. The S&P 500 was down 4.84 points, or 0.17 percent, to 2,856.98. The Nasdaq Composite Index decreased 10.64 points, or 0.13 percent, to 7,878.46.
Fed officials saw an escalation in international trade disputes as a potentially "consequential downside risk" for the U.S. economy, according to the minutes released on Wednesday.
"Participants observed that if a large-scale and prolonged dispute over trade policies developed, there would likely be adverse effects on business sentiment, investment spending, and employment," said the minutes of the Fed's July 31-Aug. 1 meeting.
While many Fed officials signaled that the central bank was ready to raise interest rates as soon as next month, some worried that current trade disputes could force the central bank to rethink its interest rate hike plans.
Meanwhile, U.S. weekly jobless claims slipped by 2,000 to 210,000 last week despite the ongoing trade worries, the Labor Department said on Thursday. The 4-week moving average was 213,750, a decrease of 1,750 from the previous week's unrevised average.
The Dow Jones Industrial Average fell 76.62 points, or 0.30 percent, to 25,656.98. The S&P 500 was down 4.84 points, or 0.17 percent, to 2,856.98. The Nasdaq Composite Index decreased 10.64 points, or 0.13 percent, to 7,878.46.
Fed officials saw an escalation in international trade disputes as a potentially "consequential downside risk" for the U.S. economy, according to the minutes released on Wednesday.
"Participants observed that if a large-scale and prolonged dispute over trade policies developed, there would likely be adverse effects on business sentiment, investment spending, and employment," said the minutes of the Fed's July 31-Aug. 1 meeting.
While many Fed officials signaled that the central bank was ready to raise interest rates as soon as next month, some worried that current trade disputes could force the central bank to rethink its interest rate hike plans.
Meanwhile, U.S. weekly jobless claims slipped by 2,000 to 210,000 last week despite the ongoing trade worries, the Labor Department said on Thursday. The 4-week moving average was 213,750, a decrease of 1,750 from the previous week's unrevised average.
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