US stocks slip as markets await Fed decision

US stocks fell today, ahead of the US Federal Reserve's rate decisions at the end of its monetary policy meeting later today, in addition to a press conference by Jerome Powell.

The US Federal Reserve will unveil its rate decision later today, with forecasts of a 25bp cut to 2.0%, for the second time this year.

Wall Street Journal said the meeting coincides with measures taken by the Federal Reserve to increase liquidity in the US banking sector, with implementing repo (short-term borrowing) repurchase agreement, for the first time in several years.

Chairman Jerome Powell will hold a press conference to comment on the decision.

By 15:08 GMT, Dow Jones fell by 0.2% or 70 points to 27,041 points, Nasdaq shed by 0.3% or 59 points to 8,158, and S&P 500 fell by 0.3% or 8 points to 2,997.