The composite index of the Nasdaq market, where the main technology companies are listed, fell 0.45% or 48.68 units, to 10,842.16.
The Fed is expected to raise interest rates by another 0.75 percentage point today and the biggest unknown is whether the central bank will start to slow rate hikes at its December meeting.
Investors’ attention, meanwhile, will be focused on comments from central bank President Jerome Powell, which could provide clues as to whether the Fed will reduce the magnitude and pace of rate hikes, or continue with efforts to control the price increase.
Some investors have already expressed concern about how the stock market will react if the Fed does not indicate a possible slowdown in future rate hikes.
“If we get a surprise in either direction, there could be a lot of volatility”John Roe, director of multi-asset funds at Legal & General Investment Management, noted in statements collected by The Wall Street Journal.
There will be another round of earnings today, and after the Wall Street close, investors will assess earnings from Qualcomm and Robinhood Markets.
All sectors operate with losses and the largest are for real estate (-1.38%) and energy (-0.92%).
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
