Trading Day: S&P/ASX dips ahead of US Federal Reserve meeting, miners, energy fall

The ASX halved a sharp intraday fall but still closed lower ahead of Thursday morning’s Fed decision.

A decline in value stocks hit the S&P 500 in the US ahead of a two-day meeting of the US Federal Reserve board. Photo by Mark Evans/Getty Images

The ASX halved a sharp intraday fall but still closed lower ahead of Thursday morning’s Fed meeting.

Tomorrow morning the US Federal Reserve will conclude its two-day meeting where the central bank is expected to keep rates unchanged and its $120bn pace of monthly bond purchases on hold. Investors are watching bond yields closely as they have the potential to move stock prices.