Wall Street kicks off in the red ahead of Fed decision

Wednesday, 18. September 2019 15:30

Equities in the United States traded lower at the start of the session on Wednesday as market participants awaited the latest monetary policy decision from the Federal Reserve. The decision is set to be announced at 2:00 pm ET, while Fed Chairman Jerome Powell is expected to hold a press conference at 2:30 pm ET.

On the data front, investors digested the latest housing starts figures, which revealed a surge of 12.3%, as well as yesterday's industrial production data, which rose 0.6% in August.

The Dow Jones lost 0.20% at the opening bell as 3M Co dragged the index down, losing 0.93%. The Nasdaq 100 lost 0.15% immediately after the open with Adobe Inc. plunging 3.56%. The S&P 500 also started the session by losing 0.15% with FedEx, whose worse-than-expected quarterly results were released a day earlier, diving 11.81%.

The euro declined 0.17% against the greenback, changing hands for 1.10536 at 9:30 am ET.

Related Links: 
Author:
Breaking the News / GG