The Dow Jones Industrial Average was up 46.33 points, or 0.14%, at 33,175.12, while the S&P 500 was down 8.90 points, or 0.21%, at 4,166.58. The Nasdaq Composite was down 110.17 points, or 0.88%, at 12,453.58.
Rate-sensitive bank stocks added 0.8%, while mega-caps like Amazon.com Inc, Tesla and Nvidia fell, putting pressure on the Nasdaq.
The Traders are pricing in expectations of a 50 basis point rate hike and the start of the central bank’s $9 trillion balance sheet reductions when the Fed releases its monetary policy statement at 1800 GMT.
Attention will turn to Fed Chairman Jerome Powell’s news conference for new clues about how far and how fast the central bank is willing to go in an effort to bring down the highest inflation in decades.
Source: Ambito
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