US stocks slip ahead of Fed announcement on interest rates and crude oil prices rise again
The US stock market slipped on Wednesday ahead of the Federal Reserve's announcement on interest rates, with the S&P 500 down 0.2%. Oil prices continued to rise due to the war with Iran, with Brent crude up 5% to $116.80.
The US stock market is ticking lower ahead of the Federal Reserve's announcement on interest rates. The S&P 500 slipped 0.2% as artificial-intelligence stocks and worries about higher oil prices weighed on the market. The Dow Jones Industrial Average was down 97 points, or 0.2%, and the Nasdaq composite was 0.4% lower. Profit reports from companies like Visa and Starbucks showed stronger growth than expected, supporting the market. Oil prices continued to rise due to the war with Iran, with Brent crude up 5% to $116.80. The Federal Reserve is expected to hold the federal funds rate steady, with traders awaiting guidance on future rate cuts.
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