U.S. stocks fell Wednesday, with the Dow industrials giving up gains to end the day down 28 points.
There was excitement across the pond: British bond yields jumped early Wednesday, with some longer-dated debt flirting with 5%. But the Bank of England was in the market buying heavily, and yields receded in the afternoon. The Bank of England insists its bond-buying program will end Friday, despite calls for an extension.
In the U.S., the minutes from the Fed's September meeting showed that officials remained concerned about inflation--and the effect of interest-rate increases. In the end, all three major indexes finished down.
Investors were digesting producer-price data for September and some major earnings. PepsiCo rose after the beverage giant lifted its sales guidance again. Moderna shares jumped after reaching a deal with Merck on a cancer vaccine.
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