Stocks fall, yields rise as Fed details inflation efforts

By DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers

Stocks fell and bond yields rose on Wall Street Wednesday after details from last month’s Federal Reserve meeting showed the central bank intends to be aggressive in its efforts to fight inflation. Minutes from the meeting show that policymakers agreed to begin cutting the Fed’s stockpile of Treasurys and mortgage-backed securities by about $95 billion a month, starting in May. The S&P 500 fell 1%, the Dow Jones Industrial Average fell 0.4%. Technology companies had some of the biggest losses, pushing the Nasdaq down 2.2%. The yield on the 10-year Treasury rose to 2.61%.