• The Dow Jones Industrial Average (DJI) dropped 0.62% to 41,581.31 points.
• The S&P 500 (SPX) lost 1.07%, closing at 5,614.66 points.
• The Nasdaq Composite (IXIC) fell 1.71% to 17,504.12 points.

🏦 Fed Policy Decision Looms

The Federal Reserve is set to announce its decision on Wednesday. The central bank is widely expected to keep interest rates unchanged. Markets are currently pricing in 60 basis points of rate cuts in 2025, but several Fed officials have warned against moving too quickly.

“There is great uncertainty about the tariffs, their extent, and how they will impact the economy. The Fed will likely wait for more data before making any policy shifts.” – Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder.

🚗📉 Tech Giants Take a Hit

• Alphabet (GOOGL.O) fell 2.2% after announcing its $32 billion acquisition of Wiz, the largest deal in its history.
• Nvidia (NVDA.O) declined 3.35% amid its annual developer conference and shifts in AI strategy.
• Tesla (TSLA.O) dropped 5.34% after RBC slashed its price target from $320 to $120.

📈 Safe-Haven Assets on the Rise

Market uncertainty led investors to seek safety in traditional safe-haven assets:

• Gold surged to an all-time high, surpassing $3,000 per ounce.
• The U.S. dollar remained strong in currency markets.

📉 Inflation Concerns

Unexpectedly rising U.S. import prices in February heightened inflation fears. The S&P 500 and Nasdaq, which recently entered correction territory (down over 10% from their highs), continue to struggle for stability.