U.S. stocks closed lower a day after leaping back within a few good days’ worth of gains from their all-time high. The S&P 500 fell 0.6% Wednesday after meandering between earlier gains and losses.

All three major U.S. stock indexes finished lower on Wednesday, led by an almost 245-point drop in the Dow Jones Industrial Average, after minutes of the Federal Reserve's May 6-7 meeting referred to ...