Major U.S. stock indexes close down over 1% ahead of Fed decision


U.S. stocks closed lower on Tuesday, but were well off the session’s lows, a day before the Federal Reserve could be poised to fire off its last interest rate hike of this cycle. The Dow Jones Industrial Average DJIA shed about 367 points, or 1.1%, ending near 33,684, according to preliminary FactSet figures. The S&P 500 index SPX shed 1.2%, while the Nasdaq Composite Index COMP closed 1.1% lower. Regional bank stocks were hammered on Tuesday, a day after JPMorgan Chase & Co. won an auction for the assets of the failed First Republic Bank. The SPDR S&P Regional Bank ETF KRE closed down 6.4% on Tuesday. U.S. crude oil…

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