Stock Market Shaken: Fed Decisions Loom & Tech Sector Takes Spotlight

Wall Street indexes fell as investors anticipated the Federal Reserve's upcoming monetary policy update. While the Technology sector was the sole gainer, others struggled amidst high Treasury yields and shifts in individual stock performances. Paramount's bid for Warner Bros Discovery and Microsoft's talks with Broadcom made headlines.

Wall Street suffered a setback on Monday as all but one S&P 500 industry sector turned red. Investor nerves were on edge awaiting the Federal Reserve's monetary policy update two days away, amidst rising Treasury yields and moderate consumer spending increases late in the third quarter.

Paramount Skydance's $108.4 billion bid for Warner Bros Discovery captured market interest, despite sending Netflix shares downwards. Technology was the only gainer among the sectors, buoyed by Microsoft, Nvidia, and Broadcom. Investors are now speculating on future Fed rate cuts and technology earnings set for later in the week.

The S&P 500 fell 38.22 points, closing at 6,832.18, while the Nasdaq declined by 0.46%. Declining stocks still overshadowed advancers across both the NYSE and Nasdaq as financial markets grappled with these latest developments.

(With inputs from agencies.)