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Markets dip as Federal Reserve worries economy faces ‘difficult tradeoffs’

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The S&P 500 posted a daily decline of 0.6% , the Nasdaq was down 0.5% , and the Dow Jones dropped 0.7% Wednesday .

The Federal Reserve released meeting minutes in which policymakers said the U.S. faces “difficult tradeoffs” in the coming months if inflation persists and growth stalls.

Meanwhile, investors awaited quarterly results from tech giant Nvidia after markets close Wednesday afternoon .