U.S. Stocks Open Low on Tuesday; Ford Shares Fall More Than 5%
Tiger Newspress2022-09-20
Stocks slipped on Tuesday as the Federal Reserve kicked off its two-day policy meeting and Wall Street looked ahead to another large rate hike due out Wednesday.
The Dow Jones Industrial Average fell 252 points, or 0.82%. The S&P 500 shed 0.85% and the Nasdaq Composite slid 0.67%
The Federal Open Markets Committee kicks off its September meeting on Tuesday, where central bankers are expected to announce a 0.75 percentage point rate hike on Wednesday.
Ford announced that supply chain issues would cost the automaker an extra $1 billion in the third quarter. Shares fell more than 5% in morning trading.
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