US stocks end lower ahead of Fed rate decision

By Gokhan Ergocun

ISTANBUL (AA) - US stocks ended lower Tuesday as investors awaited a decision by the Federal Reserve at the conclusion of its policy meeting.

The market expects the Fed to keep rates unchanged Wednesday, while the first interest rate cut of the year is expected to be made in June.

Fed Chairman Jerome Powell's verbal guidance will also be followed, and the effects of ongoing tariff tensions on the Fed's projections will be evaluated.

On the macroeconomic data side, the import price index in the US increased by 0.4% on a monthly basis in February and the export price index increased by 0.1%.

The number of new houses started to be built in the country increased by 11.2% in February, exceeding market expectations, while the number of construction permits issued fell by 1.2% on a monthly basis in February.

Industrial production in the US increased by 0.7% in February, exceeding market expectations.

Meanwhile, shares of Nvidia, which announced its latest technologies and new collaborations at an annual software developer conference, fell over 3%.

Alphabet shares also fell more than 2% after news that Google will buy cybersecurity startup Wiz for $32 billion.

The VIX Index, also known as the “fear index,” rose by 5.8% to 21.70.

The Dow Jones Industrial Average fell 0.62%, or 260.32 points, to end the day at 41,581.31.

The S&P 500 slid by 1.07%, or 60.46 points, to 5,614.66, and the Nasdaq Composite declined by 1.71%, or 304.55 points, to 17,504.12.