US stock markets closes one day before Fed decision

(MENAFN) U.S. stock markets closed lower on Tuesday as investors digested a combination of corporate earnings and fresh economic data, ahead of the Federal Reserve’s upcoming monetary policy announcement.

The Dow Jones Industrial Average dropped 204.57 points, or 0.46 percent, ending the session at 44,632.99. The S&P 500 decreased by 18.91 points, or 0.30 percent, to finish at 6,370.86, while the Nasdaq Composite lost 80.29 points, or 0.38 percent, closing at 21,098.29.

Out of the 11 major sectors in the S&P 500, seven ended the day lower. The industrials and consumer discretionary sectors experienced the largest declines, whereas real estate and utilities sectors led gains with increases of 1.70 percent and 1.17 percent, respectively.

Regarding economic data, the U.S. Bureau of Labor Statistics revealed that job openings remained steady at 7.4 million in June, with hiring levels showing little variation.

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