iStock/Thinkstock(NEW YORK) — U.S. stocks closed mostly lower on Tuesday for a second day ahead of a Federal Reserve meeting and following fallout from President Trump’s executive order on immigration and refugees.
The Dow dropped 107.04 (-0.54 percent) to finish at 19,864.09.
The Nasdaq gained 1.07 (+0.02 percent) to close at 5,614.79, while the S&P 500 finished at 2,278.87, down 2.03 (-0.09 percent) from its open.
Crude oil prices were at nearly $53 a barrel, up less than 1 percent.
Federal Reserve: The Federal Reserve began its two-day policy meeting on Tuesday and will reveal Wednesday whether or not the U.S. central bank will raise rates after an interest rate hike in December (the second since the recession). Experts believe it’s likely the Fed will hold off on rates this month.
President Trump: Despite a post-election rally, investors became unsettled this week as controversy continued over the president’s executive order on immigration, leading to a sell-off and causing business leaders to speak out against it. Wall Street’s “fear index,” the VIX, also rose for a second day.
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