Stocks were down sharply but off session lows ahead of Fed minutes from the July meeting, out at 2 p.m. ET. The Nasdaq and S&P 500 shed 0.9% each, while the Dow Jones industrial average fell 1%. All three indexes are trading below their 50-day moving averages. The Dow has fared worst and is now nearly 6% off its May high. Volume was tracking well above Tuesday’s pace on both exchanges.