Wall Street Wobbles Ahead of Fed's Monumental Rate Cut Decision

Wall Street's main indexes declined on Wednesday amid volatile trading and uncertainty over the Federal Reserve's first interest rate cut in four years. Mixed economic indicators and varying predictions about the magnitude of cut created jitters, affecting major indexes and stocks across sectors.

Wall Street's main indexes declined during volatile trading on Wednesday, as investors awaited the Federal Reserve's first interest rate cut in over four years.

The mixed economic indicators have heightened investor anxiety, especially regarding the size of the expected rate cut. The Dow Jones Industrial Average fell by 101.36 points, or 0.24%, to 41,504.82, the S&P 500 lost 15.32 points, or 0.27%, to 5,619.26, and the Nasdaq Composite shed 68.11 points, or 0.39%, to 17,559.95.

Market sentiment remained skittish as eight of the 11 S&P 500 sectors slipped, with healthcare being the exception, rising by 0.1%. Investors are closely eyeing Fed Chairman Jerome Powell's comments for further insights into the central bank's economic outlook and future rate cuts.

(With inputs from agencies.)