FX.co ★ US Futures Steady Ahead of Fed Decision

U.S. stock futures experienced a period of stabilization on Wednesday as investors turned their focus to the Federal Reserve's forthcoming policy announcement. The central bank is largely anticipated to maintain existing interest rates. Market participants are particularly interested in the Fed's quarterly updates concerning rate projections, as well as its assessments of economic growth, inflation, and unemployment rates. This comes after the S&P 500 and the Nasdaq Composite suffered declines of 1.07% and 1.71%, respectively, on Tuesday, interrupting a two-day ascent, while the Dow decreased by 0.62%. The sell-off was predominantly led by technology stocks, with significant downturns noted in Nvidia (-3.4%), Meta Platforms (-3.7%), Netflix (-2.1%), Palantir (-4%), and Broadcom (-3%). Tesla's shares also slumped by 5.3%, following a revised price target reduction by RBC Capital Markets, which attributed the adjustment to intensifying competition within the electric vehicle sector. Over the past four weeks, U.S. stocks have faced downward pressure due to escalating global trade tensions and rising concerns about a potential recession in the U.S.