Traders work on the floor of the New York Stock Exchange during morning trading on July 06, 2023 in New York City.
  • US stocks were lower Wednesday morning ahead of the release of the Fed's latest meeting minutes. 
  • Inflation has been falling but is still above the Fed's target, creating doubt about how soon it could pivot. 
  • China's economic situation continues to worsen, prompting concerns about global growth. 

US stocks were down on Wednesday as traders waited on further indication of how the Federal Reserve is feeling about inflation.