Investors anxiously watched Wall Street move up and down on Wednesday as investors awaited the Federal Reserve's (Fed) decision on interest rates for the end of 2024.
The Fed is expected to cut rates by 0.25%, while it is also expected to give an early signal about reducing the frequency of interest rate cuts in 2025 driven by persistent inflation concerns.
On Tuesday, the Dow Jones fell 267 points (0.61%), the S&P 500 fell 0.39%, and the Nasdaq Composite lost 0.32%.
Most sectors in the S&P 500 ended lower, with industrials, energy and financials suffering the biggest losses.
Technology stocks also faced challenges as major players Nvidia fell 1.2% and Broadcom declined 3.9%.
In contrast, Tesla still managed to maintain its upward momentum by gaining 3.6%.
Investors remained cautious ahead of the Fed's decision, as a change in interest rates could reshape global market sentiment.
