S&P 500 takes a step back after setting record; yields rise

NEW YORK (AP) — The S&P 500 pulled back from its newly set record on Wednesday after a meandering day of trading took a late turn lower. The benchmark index fell 0.4% a day after it wiped out the last of its losses created by the pandemic and surpassed its Feb. 19 peak. It and other indexes turned lower in the afternoon after the Federal Reserve released the minutes from its latest policy meeting. The stock market’s momentum has remained solid, but it’s slowed recently afte