U.S. stock market opens lower Wednesday as Wall Street watches for Fed minutes
The Dow Jones Industrial Average shed roughly 120 points, or 0.3%, after it snapped a 5-day winning streak on Tuesday. The S&P 500 fell 0.2% and the Nasdaq Composite traded near the flatline.The Federal Reserve publishes its meeting minutes from its July gathering at 2 p.m. ET. Market participants will be looking for clues about when the central bank could start dialing back its monthly bond buying program.Since that July meeting, there’s been growing support within the Fed to announce a taperin
China Convenes Banks in Bid to Restore Calm After Stock Rout
CSRC meeting follows sharp drop in China’s equity market. Investors have been spooked by crackdown on education firms. China’s securities regulator convened a virtual meeting with executives of major investment banks on Wednesday night, attempting to ease market fears about Beijing’s crackdown on the private education industry.The hastily arranged call, which included attendees from several major international banks, was led by China Securities Regulatory Commission Vice Chairman Fang Xinghai, p