US stocks fall as inflation drops in March but traders mull fresh recession concerns

• US stocks erased earlier gains to close lowers despite cooler-than-expected March inflation data. 
• The consumer price index increased 0.1% last month compared to estimates of 0.2%. 
• The Fed expects the economy to slip into a recession later this year, meeting minutes show. 

US stocks declined on Wednesday as investors assess concerns over a coming recession. 

Meeting minutes released by the Federal Reserve said policymakers anticipate banking sector turmoil to send the economy into a downturn later this year. 

Equities erased earlier gains in the session, which were spurred by a cooler-than-expected March inflation report.