(Reuters) – Major U.S. stock indexes fell, with the Nasdaq falling after several sessions at historic highs, while investors weighed the outlook for the Federal Reserve, which is a bit too cautious on a slowing economic scenario. growth.
At 4:40 p.m., the Composite was down 0.82% at 38,329.50, the S&P 500 was down 0.52% at 5,405.27 and the S&P 500 was down 0.25% at 17,622.87.
Markets are holding on to expectations of a monetary easing in September, pointing to a more than 70% chance of a cut, according to FedWatch, while interest rate traders expect two cuts by the end of the year.
However, that contrasts with the central bank’s own forecasts released on Wednesday, in which central banks cut their forecast for three cuts this year to just one.
Complicating matters, a preliminary reading from the University of Michigan showed the consumer sentiment index fell to 65.6 in June, well below expectations of 72.