Stocks are down on Wednesday as investors worry that the Federal Reserve won’t introduce interest rate cuts as soon as traders were hoping.
Investors have been bullish on the Fed reducing interest rates during its March meeting. However, some of that confidence is starting to falter in light of the stock market’s performance at the start of the new year.
That includes the market experiencing one of its worst opens to a new year in decades. That’s especially rough for traders hoping for interest rate drops, as the market was performing well when 2023 came to a close.
All of this has traders waiting for the Fed to post its minutes from its December meeting. Those should be out later today and will likely affect stocks for the next couple of days.
With all that said, let’s check out how the major stock indices are reacting to this news below!
Stocks Down Today: Major Indices Falling
- The S&P 500 starts us off with a 0.69% decrease as of Wednesday morning.
- Next on our list is the Dow Jones Industrial Average with a similar 0.63% fall as of this writing.
- Closing out our coverage of the major indices is the Nasdaq Composite with a massive 1.01% drop this morning.
Investors looking for more of the most recent stock market stories are going to want to keep reading!
InvestorPlace is home to all of the hottest stock market news that traders need to know about on Wednesday! Among that is what has shares of SoFi (NASDAQ:SOFI), Rivian (NASDAQ:RIVN) and Pinstripes (NYSE:PNST) stock on the move today. you can catch up on all of these matters at the following links!
More Wednesday Stock Market News
- KBW Just Issued a Warning on SoFi (SOFI) Stock
- RIVN Stock Alert: Rivian Recalls 7,873 Electric Vehicles
- Why Is Pinstripes (PNST) Stock Down 12% Today?
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
