Stocks close lower after Trump tweets and Fed rate hike hints

As investors digested inflation data and news of geopolitical turmoil, stocks ended up down after swaying back and forth Wednesday.

Here's the scoreboard:

Dow Jones Industrial Average: 24,189.73 -218.27 (-0.89%)

S&P 500: 2,645.65 -11.22 (-0.42%)

AUD/USD: 0.7756 -0.0007 (-0.09%)

ASX 200 SPI futures: 5,791.0 -47.0 (-0.81%)

1. Federal Reserve officials could speed up fiscal tightening, according to minutes from their policy meeting released Wednesday. They expressed confidence that inflation will hit their 2% target and concern over a potential trade war with China.
2. Oil prices soared after President Donald Trump vowed to strike Syria with missiles in an early morning tweet. West Texas Intermediate Oil hit a three-year high, up 1.74% to $66.68 per barrel.
3. The Russian ruble continued to sink after President Donald Trump taunted Moscow on Twitter. The currency is on track for its worst week since 1999.
4. Tesla plans to start production for its Model Y sports utility vehicle in November of next year. The company is accepting preliminary bids for supplier contracts, Reuters reports.
5. Shares of Facebook are up nearly 2%, after another day of Mark Zuckerberg testifying before US lawmakers on Capitol Hill.

Here is Thursday's economic calendar:

• Bank of England Governor Mark Carney will give a speech.
• The European Central Bank will release minutes from its last meeting.
• US weekly jobless claims are out.

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