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Dow Jones Industrial Average Falls Ahead of Federal Reserve Meeting

Dow Jones Industrial Average Falls Ahead of Federal Reserve Meeting

Last week the Dow Jones Industrial Average fell from a high on Monday of 17,111.42 to a low on Friday of 16,987.00 before closing at 16,987.51. The stocks fell after investors sold ahead a statement due next week from the Federal Reserve on interest rates and monetary policy.

The Federal Reserve is due to review monetary policy and the markets are hoping for an idea as to when it plans to raise benchmark interest rates. The data released last week led to expectations of action from the Federal Reserve so investors sold stock for profits.

Furthermore, oil prices have been falling which caused a fall in energy stocks. It seems likely that the market will continue to fall until the Federal Reserve’s meeting on Wednesday. Once the outcome of the meeting is known then the immediate future of the market will become far clearer.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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