US stocks fell for a second day in a row on Tuesday as investors braced for the Federal Reserve's interest rate decision on Wednesday and monitored the fallout from Anthropic CEO Dario Amodei's essay on AI safety fears.
The tech-heavy Nasdaq Composite (^IXIC) declined 0.8% while the Dow Jones Industrial Average (^DJI) dropped 0.7%. The S&P 500 (^GSPC) tumbled more than 0.4%.
Oil prices ticked back up, with Brent crude (BZ=F) and WTI crude (CL=F) changing hands at $108 and $105 per barrel, respectively. Prices have remained elevated since Saudi Arabia shuttered its East-West pipeline and the Iranian-backed Houthis launched fresh attacks in the Middle East.
Bond yields have also shot up as investors await the next Fed policy decision. The yield on the 10-year note (^TNX) hovered around 5%. The move follows the key interest rate briefly rising overnight to its highest intraday level since 2007, underscoring concerns about rising borrowing costs, global deficits, and inflation.
The Federal Open Market Committee began its September meeting on Tuesday, with traders overwhelmingly expecting a rate hike. The release of the so-called dot plot, along with Fed Chairman Kevin Warsh's press conference, could offer investors clues about the prevailing winds in the Fed's monetary policy.
#federal
The tech-heavy Nasdaq Composite (^IXIC) declined 0.8% while the Dow Jones Industrial Average (^DJI) dropped 0.7%. The S&P 500 (^GSPC) tumbled more than 0.4%.
Oil prices ticked back up, with Brent crude (BZ=F) and WTI crude (CL=F) changing hands at $108 and $105 per barrel, respectively. Prices have remained elevated since Saudi Arabia shuttered its East-West pipeline and the Iranian-backed Houthis launched fresh attacks in the Middle East.
Bond yields have also shot up as investors await the next Fed policy decision. The yield on the 10-year note (^TNX) hovered around 5%. The move follows the key interest rate briefly rising overnight to its highest intraday level since 2007, underscoring concerns about rising borrowing costs, global deficits, and inflation.
The Federal Open Market Committee began its September meeting on Tuesday, with traders overwhelmingly expecting a rate hike. The release of the so-called dot plot, along with Fed Chairman Kevin Warsh's press conference, could offer investors clues about the prevailing winds in the Fed's monetary policy.
#federal
1 day ago
