The Dow’s win streak is at risk as US stocks drop ahead of expected Fed rate hike

• US stocks fell on Wednesday as investors prepare for another interest rate hike from the Fed.
• Wednesday’s decline could end the Dow Jones Industrial Average’s 12-day win streak.
• Investors will be looking for clues from Fed Chairman Jerome Powell as to whether this is the last hike.

US stocks declined on Wednesday as investors prepare for the Federal Reserve’s interest rate decision and press conference led by Chairman Jerome Powell.

The Fed is expected to lift rates by 25 basis points after pausing at last month’s meeting. The CME FedWatch Tool shows a 99% chance of a rate hike later today. Investors will look for guidance from Powell as to whether this will be the last increase of the cycle, or if more are likely later this year.