S&P 500 Dips With Fed Policy Announcement on Tap

S&P 500 Dips With Fed Policy Announcement on Tap
A trader works on the floor of the New York Stock Exchange (NYSE) in New York on June 7, 2022. Brendan McDermid/Reuters
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NEW YORK—The S&P 500 ended lower on Tuesday as the index was unable to bounce from a sharp sell-off in the prior session with a key policy statement from the Federal Reserve on deck that will reveal how aggressive the central bank’s policy path will be.

Analyst expectations had largely been predicting the Fed would hike by 50 basis points at the conclusion of its meeting on Wednesday.