Wall Street closes in red and the Dow Jones loses 1.49% pending the Fed

Wall Street closed this Tuesday in red and its main indicator, the Dow Jones Industrial Average, lost 1.49% in a day of nervousness prior to the Federal Reserve’s (Fed) decision on interest rates.

At the close of the session, the Dow Jones stood at 37,815 points; The S&P 500 lost 1.57%, to 5,035 units, and the Nasdaq fell a notable 2.04%, to 15,657 units.

The market is awaiting the Fed’s monetary policy meeting that began on Tuesday and will conclude on Wednesday with an announcement on interest rates.

The prospect of a drop in interest rates has been receding due to the persistence of inflation, and the central bank is expected to make no changes.

However, the Investors also await comments from Fed officialswho have been anticipating a higher interest rate environment for some time to come.

The employment cost index, which measures salaries and bonuses, rose more than expected in the first quarter, 1.2%, reinforcing the idea that inflation persists.

The yield on the 10-year Treasury bond rose to 4.682%.

By sectors, losses predominated and were led by energy firms (-2.89%).

Among the 30 listed companies on the Dow Jones, the 4.72% rise of the industrial company 3M stood out, but apart from that, red was the tone, with the largest declines for Caterpillar (-4.33%) and Amazon (-3.29 %).

Texas oil closed at $81.70 per barrel and, at the close of trading, gold rose to $2,303 per ounce and the euro was trading at $1.067.