US STOCKS-Wall St pares losses after Fed minutes

miércoles 19 de agosto de 2015 14:03 GYT
 

* Chinese stocks reverse sharp losses to end higher

* All 10 S&P sectors down; energy, materials worst hit

* S&P posts worst 2-day loss since late July

* Indexes down: Dow 0.73 pct, S&P 0.68 pct, Nasdaq 0.61 pct (Adds details on Fed minutes, updates prices)

By Tanya Agrawal

Aug 19 (Reuters) - U.S. stocks pared losses after the latest minutes from the U.S. Federal Reserve showed that an improving job market edged the central bank closer to an interest rate hike at its July meeting.

The minutes showed that policymakers continued to express broad concerns about lagging inflation and the weak state of the world economy and that it only needed to see "some" more improvement in labor markets before hiking rates.

U.S. stocks had fallen more than 1 percent earlier in the day as investors worried about the effect of China's slowing growth ahead of the release of the minutes.

At 13:55 p.m. ET (1755 GMT) the Dow Jones industrial average was down 127 points, or 0.73 percent, at 17,384.34. The S&P 500 was down 14.23 points, or 0.68 percent, at 2,082.69 and the Nasdaq Composite was down 30.88 points, or 0.61 percent, at 5,028.47.   Continuación...