Stocks fall on Wall Street ahead of Fed policy statement

BANGKOK – Stocks fell successful day trading connected Wall Street Wednesday arsenic investors hold to perceive from the Federal Reserve aft its past argumentation gathering of the year.

The S&P 500 scale fell 0.2% arsenic of 1:32 p.m. Eastern and is coming disconnected of 2 days of losses. The Dow Jones Industrial Average fell 27 points, oregon little than 0.1%, to 35,515 and the Nasdaq fell 0.7%.

Retailers and different companies that trust connected user spending fell. The gaffe follows the latest retail income study from the Commerce Department. Sales roseate a humble 0.3% successful November, but fell abbreviated of economists' forecasts amid concerns that rising costs could crimp user spending.

Amazon.com fell 1.7%, General Motors fell 1.4%. Coach and Kate Spade proprietor Tapestry shed 3.6%.

Big communications companies were besides among the biggest weights connected the market. Facebook genitor Meta fell 0.9% and Google genitor Alphabet shed 1%.

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The terms of U.S. crude lipid fell 0.4% and sent vigor stocks lower. Hess fell 2.6%.

Bond yields edged higher. The output connected the 10-year Treasury roseate to 1.45% from 1.44% precocious Tuesday.

Health attraction companies made coagulated gains. Eli Lilly jumped 9.8% aft giving investors an encouraging update connected its fiscal forecasts and cause development.

Rising ostentation and its interaction connected the broader system and markets volition beryllium a cardinal absorption erstwhile the Federal Reserve releases a connection aboriginal Wednesday arsenic it ends its past two-day gathering of the year.

The cardinal slope is wide expected to denote a faster pullback of its stimulus measures arsenic inflationary pressures build. That would see hastening plans to trim enslaved purchases that person kept involvement rates successful check.

Investors volition besides beryllium listening for immoderate clues to the Fed's timeline successful 2022 for raising benchmark involvement rates.

Concerns implicit the interaction from the Fed's actions, on with the latest coronavirus variant, person made for choppy trading arsenic the marketplace approaches the adjacent of 2021.

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