Wall Street opens in red ahead of FOMC announcements
|Major equity indexes in the U.S. started the day with modest losses as investors are looking to refrain from making large bets before the Fed publishes its policy statement and releases the updated economic/policy outlook. As of writing, the Dow Jones Industrial Average is losing 0.45% on a daily basis while the S&P 500 and the Nasdaq Composite are erasing 0.25% and 0.12% on the day.
The heavy sell-off witnessed in Germany's DAX and the Euro Stoxx 50 indexes after car maker giant BMW warned of a significant drop in 2019 profit weighed on the S&P 500 industrials sector on Wednesday, which was last down 0.66% on the day. On the other side, consumer discretionary and communication services are the only sectors staying in the positive territory in the early trade.
FOMC Preview: What 17 major banks are expecting from March meeting?
“Citi analysts expect the Fed to change the median “dot” to indicate one hike only in 2019 but with hawkish risks that it keep them unchanged at two. End of balance sheet reduction may also be announced and the meeting is also likely to see changes to the Fed’s assessment of the US economy,” Citibank said previewing FOMC decisions.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.