U.S. stocks declined Wednesday ahead of the release of notes from the Federal Reserve’s most recent meeting of policymakers.
The Dow Jones industrial average fell 140 points, or 0.4 percent, shortly after the opening bell. The blue chip index closed on Tuesday according to a record high.
The S&P 500 fell 0.6% and the Nasdaq Composite fell 1.1%.
Stocks have been muted over the past few days after a rally in which the major indices reached a record high.
Fresh data Wednesday showed that U.S. retail sales climbed more than expected in January, driven in part by the latest round of stimulus checks and declining Covid-19 infection numbers. It was a reversal of three consecutive months of declining sales during the 2020 holiday season.