Wall Street closes in the red as Fed meeting looms

Monday, 31. October 2022 21:00

Major stock indexes in the United States closed the Monday session off in the negative territory as traders braced themselves for another Federal Reserve meeting, which will commence on Tuesday. For the month, however, Dow recorded its best one since 1976 and was 13.95% up, while Nasdaq 100 gained 3.96% and S&P 500 added 7.99%.

Meanwhile, another busy week of earnings lies ahead, as Airbnb, Coinbase, Robinhood, Pfizer, PayPal, Uber, and many more are expected to reveal their quarterly results.

The Dow Jones fell 0.39% or 128 points at the closing bell, with Intel dipping 2.20%. At the same time, the Nasdaq 100 tumbled 1.22% as Airbnb plunged 7.20%. At the close, the S&P 500 slid 0.75%, with ON Semiconductor nosediving 8.97%. The euro traded 0.85% lower against the dollar at 3:59 pm ET, selling for 0.98811.

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