NEW YORK — Stocks declined as the trading day came to a close on Wednesday triggered by the release of the recent Federal Reserve meeting minutes.

According to the minutes, most officials within the Federal Reserve still hold the view that there are potential risks of increased inflation on the horizon, while only a “couple” of officials held the stance of not wanting to raise interest rates in the month of July.

Notably, the central bank had raised interest rates to their highest point since 2001 during that particular meeting.

Market investors were keenly observing these developments in anticipation of insights into the Federal Reserve’s future actions at its upcoming meeting.

According to the FedWatch tool provided by the CME Group, close to 90% of traders currently anticipate that the central bank will maintain the current interest rates during the next month’s meeting.

Meanwhile, crypto exchange Coinbase (COIN) saw its stock performance remaining relatively stable after the company announced it had obtained regulatory approval to introduce regulated crypto futures for its U.S. retail customers in the forthcoming months.