U.S. stocks eased from record highs on Tuesday after comments from Federal Reserve officials fueled speculation of an interest rate hike this year.
The S&P telecommunications index and utilities, among sectors most sensitive to changes in interest rates, led the day's declines. Telecom dropped 2.1 percent and utilities were down 1.2 percent.
The Dow Jones industrial average was down 84.03 points, or 0.45 percent, to 18,552.02, the S&P 500 lost 12 points, or0.55 percent, to 2,178.15 and the Nasdaq Composite dropped 34.90 points, or 0.66 percent, to 5,227.11.
Asian shares stepped back from a one-year high on Wednesday after the influential New York Federal Reserve Bank president said the Fed could raise interest rates as soon as September, prompting investors to pause after rallies in recent weeks.
MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.05 percent while Japan's Nikkei rose 0.4 percent, paring some of Tuesday's sharp losses.
Reference: Reuters
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