The major Wall Street indices took a downturn on Tuesday due to prevailing concerns about the economic ramifications of U.S. tariff policies, as investors anxiously anticipated a key monetary policy decision from the Federal Reserve. The central bank’s rate-setting meeting commenced on the same day, with expectations indicating that interest rates will remain unchanged as per LSEG data. Some Federal Reserve officials have voiced caution, suggesting waiting for further data to assess the impact of tariffs before making any policy decisions.
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