Wall Street stocks close lower
Fed seen as dovish in meeting minutes
Oil prices rise more than 1
Benchmark 10year yields edge higher
Dollar pare back gains

Aug 17 Reuters Global equities fell and U.S. Treasury yields rose on Wednesday after the Federal Reserve39;s meeting minutes showed that officials were ready to slow the pace of interest rate hikes in tandem with signals of a slowdown in inflation.

In their July meeting minutes released on Wednesday, Fed officials said the pace of future rate hikes would depend on incoming economic data, as well as assessments of how the economy was adapting to the higher rates already approved. 

After the release of the minutes, traders of futures tied to the Fed39;s policy rate saw a halfpercentagepoint rate hike as more likely in September given recent economic data showing a moderation in inflation. U.S. consumer prices were flat while producer prices fell in July.

Overall, the minutes read a bit dovish, said Sean Bandazian, senior investment analyst for Cornerstone Wealth in Charlotte, North Carolina.

There was a lot of language about slowdowns in different areas but also several mentions about how strong the labor market is. They are keenly aware that there are several areas of the economy that are slowing. Let39;s remember that these minutes are a bit stale they are from a meeting that was prior to the decelerated CPI and an extraordinarily strong jobs report that came in for July.

MSCI39;s gauge of stocks in 50…