US stocks fall Tuesday as investors remain cautious before Fed’s decision
Date
12/18/2024 1:51:54 AM
(MENAFN) U.S. Stocks declined on Tuesday, with the Dow Jones Industrial Average falling for the ninth consecutive session. Investors remained cautious ahead of the Federal Reserve's final policy announcement of the year, especially after economic data indicated that consumer spending remained robust, providing mixed signals for the market.
The main focus for investors is the Federal Reserve's upcoming monetary policy decision on Wednesday. The market is nearly certain that the central bank will reduce interest rates by 25 basis points. What investors are particularly eager to understand is the Federal Reserve's economic outlook, which could provide insights into how much further the central bank is willing to cut rates in 2025.
Preliminary data showed that the Standard & Poor's 500 index dropped 23.53 points, or 0.39 percent, closing at 6,050.55. The Nasdaq Composite Index also fell, losing 66.54 points, or 0.33 percent, to close at 20,107.35. The Dow Jones Industrial Average posted a decline of 272.77 points, or 0.62 percent, finishing at 43,445.23 points.
Despite the overall decline, the Nasdaq reached a record high on Monday, and the S&P 500 has gained about 27 percent year-to-date. However, the Dow Jones has struggled recently, marking its ninth consecutive daily drop, the longest losing streak for the index since February 1978.
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