US stocks dipped ahead of a consequential Federal Reserve meeting this week, at which the central bank is expected to offer some clues about its path forward.
Wall Street’s benchmark S&P 500 fell 0.4 per cent on Tuesday, erasing earlier gains, while the tech-heavy Nasdaq Composite dropped 0.9 per cent. The S&P 500 fell during the previous session but notched a gain of almost 8 per cent for October.
The central bank’s Federal Open Market Committee is expected to implement its fourth consecutive 0.75 percentage point rate rise on Wednesday in an attempt to cool inflation that remains at the highest level in decades. Investors will also be watching closely for any indication that the Fed is prepared to slow its pace of raises in December.
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