Wall Street indexes cut gains on Wednesday and the dollar reversed course on turmoil in Washington and U.S. Federal Reserve meeting minutes that showed worries about low inflation. Stocks pared earlier gains in a choppy session as investors worried that a backlash against President Donald Trump's comments after a violent weekend rally would stunt his ability to deliver on his pro-business promises. Fed policymakers were ready to roll out a plan to shrink its balance sheet but were increasingly wary about recent weak inflation and some called for a halt to interest rate hikes until it was clear the trend was transitory, according to the July meeting minutes.
Billionaire David Tepper thinks comparing this current stock-market environment with the overheated markets of 1999 is ridiculous.
The stock market pared gains in afternoon trading Wednesday while Netflix and Microsoft saw some positives in their charts.