Key indicators opened in Wall Street On Tuesday, investors awaited the rate of the Federal Reserve (the US central bank) raising interest rates this week to calm hyperinflation.
The Dow Jones Industrial Average dropped 131.2 points, or 0.42%, to 30,888.53 points.
The Standard & Poor’s index fell 24.7 points, or 0.63%, to 3,875.23 points, according to Archyde.com.
The Nasdaq Composite Index fell 94.9 points, or 0.82%, to 11,440.143 points.
It is noteworthy that US Treasury yields for two years are heading towards the 4% level for the first time since 2007, amid the most tightening cycle of the Federal Reserve’s monetary policy in years.
The yield on short-term bonds came in at 3.93% Tuesday, up more than 3.2%, on track for the biggest annual increase since 1994.
Eyes are focused on the Federal Reserve’s meeting tomorrow, where it is expected to raise interest rates by 0.75% for the third consecutive meeting, according to the median forecast of economists in a Bloomberg survey.