The S&P 500 closed lower

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The S&P 500 closed lower

17.03.2021 17 March 2021
3319
1 min.
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Trading ends in the red

The US S&P 500 index ended negative on Tuesday, following energy and industrial shares as investors awaited the outcome of the United States Federal Reserve (Fed) meeting.

The market showed no unihip may improve its economic outlook and reiterate its promise to stick to soft policy for the foreseeable future.

One analyst said: "This Fed meeting is one of the most important for the market in a long time. It is the first meeting since the recent rise in inflation and concerns about it".

The Nasdaq index closed higher. Shares of Apple Inc (NASDAQ:AAPL) rose 1.3% as analysts at Evercore ISI raised their target price for the iPhone maker's securities.

The Dow Jones Industrial Average index shed 0.39% by the end of trading, falling to 32,825.95 points, while the S&P 500 sank 0.16% to 3,962.71 points.

The Nasdaq Composite index rose 0.09% to 13,471.57. The index had fallen 11% from its February peak by early March, but has since almost completely recovered its losses and is now within 4% of its all-time high.

The S&P 500 energy sub-index has fallen around 3% following the drop in oil prices, while the financial and industrials indices are down more than 1%. The tech and communication services sector added more than 0.7%.

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