US stocks fall as investors brace for Fed decision

Fed policymakers will conclude their two-day meeting later in the day.

At 9:49 a.m. ET, the Dow Jones Industrial Average was down 20.12 points, or 0.05 per cent, at 39,090.64, the S&P 500 was down 4.55 points, or 0.09 per cent, at 5,173.96, and the Nasdaq Composite was down 32.36 points, or 0.20 per cent, at 16,134.43.

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At the opening bell, the Dow Jones Industrial Average fell 38.71 points, or 0.10 per cent, to 39,072.05. The S&P 500 opened higher by 3.18 points, or 0.06 per cent, at 5,181.69, while the Nasdaq Composite gained 18.97 points, or 0.12 per cent, to 16,185.76.

Shares of Tesla gained 0.3 per cent, Chipotle surged 6.2 per cent, and Intel rose 1.2 per cent,

The Treasury yields were steady in the bond market. The  US dollar gained for a fifth straight session on Wednesday, rising 0.5 per cent. 

European stock markets mostly dropped ob Wednesday.

Britain’s FTSE 100 edged down 0.2 per cent at 7,724.13 points. France’s CAC 40 fell 0.5 per cent at 8,156.48. Germany’s DAX rose 0.2 per cent at 18,021.17.

Euro Stoxx 50 lost 0.1 per cent at 5,002.03.

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In Asian stock markets, China’s Shanghai Composite gained 0.6 per cent at 3,079.69. Hong Kong’s Hang Seng Index added 0.1 per cent at 16,543.07.

Japan’s Nikkei 225 was closed for a holiday.

Crude oil prices declined on Wednesday.

Brent crude futures for May were down 72 cents or 0.82 per cent at $86.66 a barrel by 1201 GMT. US West Texas Intermediate futures for April delivery, which expire on Wednesday, fell 84 cents or 1.01 per cent to $82.63.

Gold prices drifted lower on Wednesday on the stronger US dollar. Spot gold dipped 0.2 per cent to $2,152.52 per ounce by 1335 GMT.

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Published: 20 Mar 2024, 07:14 PM IST