Dec 16, 2024
Wall Street follows European stocks lower as Fed looms
NEW YORK (Reuters) -U.S. stocks followed their European counterparts lower on Tuesday and crude prices fell as investors parsed economic data and girded themselves for a series of central bank decisions, including an expected rate cut from the Federal Reserve. Bitcoin forged new record highs and benchmark U.S. Treasury yields steadied ahead of what is expected to be a "hawkish cut" from the U.S. central bank. "There's profit taking ahead of the Fed meeting," said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut.