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.