U.S. stocks indexes traded mixed in a narrow range on Wednesday as investors looked ahead to the Federal Reserve’s widely expected move to signal the withdrawal of its pandemic-era support, while Activision Blizzard slid on a leadership change. Six of the 11 major S&P sectors fell, with energy and industrials declining the most. The banking sub-index was down 0.4 percent. The U.S. central bank will likely announce the tapering of its $120 billion-a-month asset purchase program in its policy statement due at 2 p.m. ET (1800 GMT). “The taper is largely priced into markets right now, as the Fed has been telegraphing its intentions to taper for several months,” said Danielle DiMartino Booth, CEO and chief strategist of Quill Intelligence in Dallas, Texas. The Fed’s statement will be followed by Chair Jerome Powell’s news conference, which market participants will be closely watching for views on inflation and path of interest …
Wall Street Mixed as Focus Shifts to Fed’s Taper Decision
November 3, 2021
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