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Wall St closed lower on Tuesday as investors look forward to the results of this week’s Federal Reserve policy meeting. All three major benchmarks closed lower on Tuesday with the Dow Jones losing 0.31%, the S&P 500 falling 0.22% and the tech-heavy Nasdaq sliding 0.23%.
In terms of US shares, Disney lost more than 3% following it decision to announce plans to almost double investment on its cruise and parks business. Agricultural manufacturer, Deere also lost nearly 3% after investment bank Evercore ISI downgraded the stock due to agriculture production concerns.
The US Central bank’s meeting started overnight with there being an expectation amongst investors that the Federal Reserve will not raise rates when its decision comes out on Wednesday in the US.
Over in Europe, markets closed marginally lower as European investors await the results of the Federal Reserve meeting over in the US. The STOXX 600 closed slightly lower with retail stocks posting the biggest losses, whilst banks and oil slightly offset this with gains of around 1%. The FTSE 100 and French CAC finished the day marginally higher while the German Dax saw a close in the red of 0.40%.
Locally yesterday, the ASX 200 ended Tuesday 0.47% lower with materials and real estate sector finishing the day in the red. This was slightly offset by the energy sector ending the day 0.21% higher.
What to watch today: