Dow down over 100 pts ahead of Fed update

Wednesday, 16. June 2021 18:55

Shares on Wall Street turned to losses on Wednesday ahead of the latest policy update from the Federal Reserve.

The Fed is widely expected to hold interest rates, however, traders were awaiting guidance from Chair Jerome Powell on the central bank's asset purchases during the pandemic. Powell is also expected to touch on rising inflation during his remarks following the Fed's statement.

The Dow Jones dropped 109 points at 12:55 pm ET as Dow Inc. led the losses. Meanwhile, the S&P 500 and the Nasdaq 100 were down 0.27% and 0.11%, respectively.

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