6/7, 7:47 PM (Source: TeleTrader)
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US markets trim gains, Nasdaq slides 1.5%

Major stock indexes in the United States lost steam on Wednesday, with the Nasdaq 100 and the S&P 500 turning red.

Investors are bracing for the US inflation reports, scheduled for release next week. In addition, the attention will also be on the Federal Reserve and its monetary policy meeting, as traders continue to fret over whether the central bank will opt for a pause or another interest rate increase.

The Nasdaq 100 nosedived 1.50% or 220 points at 1:45 pm ET and the S&P 500 lost 0.36% a minute later. The Dow Jones remained in the green territory, rising 0.23% at 1:46 pm ET. The euro was flat against the dollar at 1:47 pm ET, selling for 1.06946.

Baha Breaking News (BBN) / AY