U.S. stocks declined sharply on Wednesday after the Federal Reserve's July meeting minutes indicated that the pace of future interest rate hikes would depend on upcoming economic data.
According to market strategists, despite the slight decline in inflation last month, the Federal Reserve is unlikely to get distracted from its hawkish interest rate hikes because of the persistent price pressures and a strong job market. This and the tensions between China and Taiwan could keep the stock market under pressure.
