(CNBC) — Stocks gave back most of their gains on Wednesday after the Federal Reserve raised concern about the threat posed to the economy by the coronavirus pandemic.
The Dow Jones Industrial Average traded just below the flatline around 2:15 p.m. ET. The S&P 500 was down 0.1% along with the Nasdaq Composite.
“Members agreed that the ongoing public health crisis would weigh heavily on economic activity, employment, and inflation in the near term and was posing considerable risks to the economic outlook over the medium term,” the Fed said in the minutes from its July meeting.
