U.S. stocks fell from all-time highs as Federal Reserve minutes showed some members said the central bank should remain attentive to the possibility prices in the economy aren’t rising fast enough.
Inflation has stagnated despite a strengthening of main labor-market indicators. Policy makers last month “pointed to a somewhat weaker economic outlook and increased downside risks in Europe, China, and Japan,” in addition to a stronger dollar.
The Standard & Poor’s 500 Index (SPX) fell 0.2 percent to 2,048.72 as of 4 p.m. in New York, on concern the inflation comments signal pessimism about the economy. The Dow Jones Industrial Average lost 2.1 points, or less than 0.1 percent, to 17,685.73. The Russell 2000 Index of smaller companies retreated 1.1 percent.