US stocks edges lower

US stocks were down slightly Wednesday afternoon following minutes from the most recent Federal Reserve meeting as investors weighed expectations of when US interest rates may rise. Tech names were among the biggest drags on the market, with shares of Microsoft down 1.3 per cent, weighing on both the S&P 500 and Nasdaq, and shares of Qualcomm down 2.1 per cent. Qualcomm on Wednesday gave a more conservative five-year outlook than in the past. Stocks briefly pared losses following the minutes but then resumed their downward course, with the S&P 500 and Dow retreating from Tuesday's record closing highs. At 2:54 p.m., the Dow Jones industrial average fell 27.77 points, or 0.16 per cent, to 17,660.05, the S&P 500 lost 5.76 points, or 0.28 per cent, to 2,046.04 and the Nasdaq Composite dropped 26.45 points, or 0.56 per cent, to 4,675.99. Helping to limit losses, Target Corp rose 6.8 per cent and Lowe's rose 6.3 per cent, both after results, according to Reuters.