The Dow Jones posts slight gains at market open as the tech market slows in anticipation of the Federal Reserve meeting on long-term US fiscal policy.
The Dow rose 30 points as the market opened, up to 32,856 (+0.15%). The S&P 500 index posted a loss of 13.5 points to 3,974 (-0.4%), while the Nasdaq skid 134 points down to 13,338 (-1%).
Investors are awaiting the Fed meeting today, and expect little shift in the current interest rates. Yields on 10-year US treasury notes have risen 0.7% since their last forecast in December. This meeting is slated for 2 p.m. EST this afternoon.
Cryptocurrency has continued to feel the pressure from the announcement of a regulatory bill out of India, with Bitcoin (BTC) dropping another $2175 in value today to $54,788 (-3.81%). Ethereum (ETH) fell $42 to $1763 (-2.32%).
Bitcoin has fallen from its high of $61,552 which it achieved on March 13 of last week in response to the new bill, which could ban the trade and mining of cryptocurrency within its borders.
In foreign markets, Europe’s Stoxx 600 fell 1.98 points to 424.84 (-0.47%) while London’s FTSE 100 Index dropped 29.19 points falling to 6,774 (-0.43%). Asian market also marked losses today, with Shanghai’s Composite Index (SHCOMP) shedding just over a point to rest at 3,445 (-0.03%). Hong Kong’s Hang Sang (HSI) rallied slightly, posting a 6 point gain to 29,034 (+0.02%). Japan’s Nikkei 225 posted a minor loss of 6 points, down to 29,914 (-0.02%).
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