Stock market news today: Fed minutes show more rate hikes likely

US stocks traded lower on Wednesday, as investors took in the minutes from the Federal Reserve's June policy meeting.

"The economy was facing headwinds from tighter credit conditions, including higher interest rates, for households and businesses, which would likely weigh on economic activity, hiring, and inflation, al-though the extent of these effect remained uncertain," the minutes said. Meanwhile, manufacturing data released Wednesday morning showed factory orders came in weaker than expected.

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