Wall Street gives up gains on news of troubled trade talks
Updated : March 20, 2019 06:29 AM IST
Financial stocks weighed on all three major US stock indexes, which gave up early gains following a Bloomberg report that China is pushing back against American demands in trade talks.
As the Fed convened its two-day policy meeting, investors expected little change in its measured approach to interest rate hikes. Its summary of economic projections - or "dot plot" - due for release on Wednesday, will be closely scrutinized for clues regarding the extent of the central bank's patience.
A report from the US Commerce Department showed a smaller-than-expected increase in factory orders, the latest in a string of underwhelming economic data that has supported the Fed's more accommodative stance.