Wall Street Indexes Inch Down Ahead of Fed Policy Announcement

Traders Michael Urkonis (L), John Santiago (C), and Thomas Ferrigno work on the floor of the New York Stock Exchange on Dec. 9, 2021. Richard Drew/AP Photo

Wall Street’s main indexes dipped in early trading on Dec. 15 as recent readings on inflation appeared to solidify bets that, later in the day, the Federal Reserve might announce a faster phase-out of pandemic-era stimulus that has provided a tailwind to financial markets.

The Dow Jones Industrial Average fell around 100 points, or 0.29 percent, to 35,443.30, by 10:51 a.m. New York time. The S&P 500 was down around 10 points, or 0.22 percent, at 4,625.51, while the Nasdaq Composite dropped around 11 points, or 0.07 percent, to 15,891.41.