Tech Giants Falter Ahead of Fed Decision, Market Awaits Outcome

The S&P 500 and Nasdaq slipped due to losses in top tech companies like Apple and Nvidia. Investors are awaiting the Federal Reserve’s interest-rate decision. Nvidia's share volatility follows Chinese AI competition, while T-Mobile and other companies report mixed earnings results.

The S&P 500 and the Nasdaq experienced declines on Wednesday, driven by losses in major tech firms such as Apple and Nvidia. The drop reflects investor caution as they anticipate the U.S. Federal Reserve's imminent interest-rate decision.

Market consensus points toward the central bank maintaining its lending rate, with expectations set to be confirmed at 2 p.m. ET. Horizon Investments' Mike Dickson noted the lack of excitement surrounding this particular Fed meeting.

Ongoing concerns, including Nvidia's competition from Chinese startup DeepSeek, heavily influenced stock movements. Despite broader market uncertainty, individual companies like T-Mobile and F5 exhibited strong performance, highlighting the mixed earnings landscape.

(With inputs from agencies.)