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17 Mar 2015
Wall Street turns risk averse ahead of Fed meeting
FXStreet (Mumbai) - US stock markets fell on Tuesday along with the fall in crude prices as investors looked ahead to the two-day Fed meeting.
The Dow Jones Industrial Average declined 194 points, or 1.08%, to 17,782.50. The S&P 500 shed 16.99 points, or 0.8%, to 2064.20. The Nasdaq Composite fell 20.48, or 0.4%, to 4909.75.
The fall in the oil prices to six-year lows weighed over the energy stocks. Energy companies in the S&P 500 lost 0.8%. Shares of Apple Inc. gained 1.1% on reports that the company is in talks with programmers to offer a slimmed-down bundle of TV networks this fall.
Meanwhile, investors have also turned cautious as the two-day FOMC meeting begins today. The markets are widely expecting the Fed to drop the word “patient” from its forward guidance, which shall open doors for an interest rate hike at any of the subsequent meetings.
Recently, the equities have shown signs of risk aversion on the increased possibility of an interest rate hike post the release of February’s jobs report. The blue-chip index has fallen 1.7% from its March 2 record.
The Dow Jones Industrial Average declined 194 points, or 1.08%, to 17,782.50. The S&P 500 shed 16.99 points, or 0.8%, to 2064.20. The Nasdaq Composite fell 20.48, or 0.4%, to 4909.75.
The fall in the oil prices to six-year lows weighed over the energy stocks. Energy companies in the S&P 500 lost 0.8%. Shares of Apple Inc. gained 1.1% on reports that the company is in talks with programmers to offer a slimmed-down bundle of TV networks this fall.
Meanwhile, investors have also turned cautious as the two-day FOMC meeting begins today. The markets are widely expecting the Fed to drop the word “patient” from its forward guidance, which shall open doors for an interest rate hike at any of the subsequent meetings.
Recently, the equities have shown signs of risk aversion on the increased possibility of an interest rate hike post the release of February’s jobs report. The blue-chip index has fallen 1.7% from its March 2 record.