US stocks closed down on Tuesday, as investors remained cautious ahead of the Federal Reserve’s last interest rate decision of the year.
The S&P 500 lost 0.4 per cent as it suffered broad declines among all sectors except for consumer cyclicals. The biggest decliners were financials, industrials and utilities.
The tech-heavy Nasdaq Composite slipped 0.3 per cent. Four of the so-called Magnificent Seven big technology stocks declined, with Nvidia shares down 1.2 per cent. Tesla, on the other hand, added 3.6 per cent, hitting a fresh record high.
The Fed is expected to cut interest rates by a quarter point on Wednesday.
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