US equity futures declined ahead of the bell Wednesday as market participants awaited the release of minutes from the Federal Reserve's September policy meeting. Dow Jones Industrial Average futures fell 0.8%, while S&P 500 futures dropped 0.5% and Nasdaq futures declined 0.8%. Investors are focused on the 2 p.m. ET publication of the minutes from the September 16-17 policy session, where central bankers voted 12-0 to raise interest rates, seeking clarity on the central bank's current thinking.
Geopolitical tensions also weighed on sentiment. US Secretary of State Marco Rubio stated that Iran has missed multiple opportunities to reach a deal on its nuclear program, according to CNBC. The report noted that despite recent increases in crude exports through the Strait of Hormuz, Iran has intensified attacks on vessels in the waterway, with nearly 20 ships targeted over the past month.
In earnings news, Constellation Brands reported higher adjusted earnings and net sales for its second fiscal quarter late Tuesday. Energy markets showed strength, with front-month North Sea Brent crude rising 0.8% to $101.33 per barrel and US West Texas Intermediate crude gaining 0.4% to $89.90 per barrel. The August consumer credit report is scheduled for release at 3 p.m. ET.