Wall Street declines before Fed minutes

US stock indexes declined at the start of Wednesday’s session as investors digested retail earnings and awaited the release of the Federal Reserve’s meeting minutes.

Target shares dropped 10.7% to $94.13 after the retailer reported weaker quarterly sales and announced the appointment of a new CEO who will assume his role in February.

The Fed’s minutes are due later today, with markets watching for signals on monetary policy amid continued pressure from the Trump administration for rate cuts.

By 15:08 GMT, the Dow Jones Industrial Average fell 0.2% (75 points) to 44,847. The broader S&P 500 dropped 0.8% (53 points) to 6,359, while the Nasdaq Composite lost 1.6% (341 points) to 20,966.