Stocks fall but finish well above session lows after Fed minutes, crypto bounce

Stocks ended lower Wednesday, but well off session lows, as a selloff in crypto assets let up. The Dow Jones Industrial Average finished with a loss of around 164 points, or 0.5%, near 33,897, according to preliminary figures, after falling by more than 580 points at its session low. The S&P 500 ended the day down around 12 points, or 0.3%, near 4,116, while the Nasdaq Composite saw a decline of around 4 points, or less than 0.1%, to close near 13,300. Early losses came amid a broad-based selloff for assets viewed as risky, including a plunge by digital assets that took bitcoin to a low near $30,000. The No. 1 digital asset bounced back to trade above $40,000 in recent dealings, but remains down ore than 7% on the day. Minutes of the Federal Reserve’s latest policy meeting in April, released Wednesday afternoon, showed a number of policy makers aid it could be time soon to begin talking about talking about scaling back the central bank’s massive asset purchases.

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