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Stocks Slip Ahead of Fed Decision

Stocks listed on the New York Stock Exchange slipped on Tuesday as investors await the Federal Reserve’s interest rate decision for November. Fresh data has shown that consumer confidence has fallen for a third consecutive month.

The benchmark Dow Jones Industrial Average and the Nasdaq Composite Index both fell by 0.1%, however, the S&P 500 managed to rise by 0.3%. Bond prices also eased, with the 10-year Treasury yield falling by about one basis point to 4.86%.

According to Federal Reserve officials, rising Treasury yields could play a part in influencing its interest rate decision on Wednesday. With the rising yields hinting at tightening economic conditions, investors are waiting to hear whether the central bank will decide to hold interest rates steady or raise them yet again from their 22-year peak.

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