• Business

    fed: US stocks end mostly lower as markets await Fed rate hike

    New York: Wall Street stocks mostly fell Tuesday as markets awaited a key Federal Reserve decision and digested another report showing elevated inflation. Major indices had opened with modest gains but weakened thereafter as investors pondered the likelihood that the Fed would announce a 0.75-percentage-point interest rate increase on Wednesday instead of the telegraphed 0.5-percentage-point rise. Futures markets are currently betting on the bigger increase. “It looks like it’s going to be a 75 basis point hike,” said Quincy Krosby, chief equity strategist of LPL Financial. “We haven’t seen any sign that the Fed wanted to clarify this expectation. In fact, if the Fed stayed with a 50 basis point…