Dow industrials saddled with triple-digit loss as investors await Fed decision
U.S. stocks posted modest losses at the start of trade Wednesday, as investors prepared for the conclusion of a two-day Federal Reserve meeting later in the afternoon.
Economic forecasts, as reflected by the so-called dot plot, are expected to show policy makers scaling back rate-hike expectations. Powell, however, is expected to stop short of signaling a potential rate cut. The central bank is also expected to outline Wednesday plans to halt the shrinking of its balance sheet.Stocks gave up early gains to end mostly lower Tuesday after mixed headlines surrounding U.S.-China trade talks. A Bloomberg News report said China was pushing back against U.S.
General Mills Inc. GIS, +4.11% shares rose 3.4%, after the branded consumer foods maker reported fiscal third-quarter profits above expectations, while raising its outlook for the full year.
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