US stocks finished lower on Wednesday even after paring some of their earlier losses.
Worries over rapidly increasing inflation were spurred on by inflation reports from Canada and out of Europe, dragging shares down.
Meanwhile, the Federal Reserve’s meeting minutes suggested that while a temporary increase in inflation is part of its plan, the central bank might need to begin discussing what’s next if the economy continues to make strong progress.
The Dow finished 0.5%, or 163 points, lower.
The S&P 500 closed down 0.3%.
The Nasdaq Composite ended flat.
Elsewhere, cryptocurrencies also remained in the red. A crackdown on digital currencies in China led to a steep selloff in various currencies. Bitcoin was down some 10% around $39,700 per coin at the time of the market close.