U.S. Stocks Close Lower After Fed Minutes

U.S. stocks relinquished earlier gains to end slightly lower Wednesday. The afternoon selloff was seemingly triggered by minutes from the Federal Reserve's March meeting, noting plans to reduce its $4.5 trillion balance sheet this year and that some policy makers thought stock prices were high relative to standard measures. The S&P 500 closed 7.24 points, or 0.3%, lower at 2,352.92. Dow Jones Industrial Average closed with modest losses, down 41.09 points, or 0.2%, to 20,648.15. The Nasdaq Composite , which earlier set an intraday record, closer lower, falling 34.13 points, or 0.6%, to 5,864.48.