Wall Street dips as data, Fed meeting keep investors wary – Reuters

Wall Street dips as data, Fed meeting keep investors wary – Reuters

June 15 (Reuters) - The three benchmark U.S. indices traded lower on Tuesday after the S&P 500 briefly hit another record intraday high, with investor sentiment hit by a strong inflation reading for May as the Federal Reserve sat down for its latest policy meeting.

Assurance from the Fed that rising prices are transitory and falling U.S. Treasury yields have helped ease some concerns over inflation and supported U.S. stocks in recent weeks, with all eyes now on the central bank's statement at the end of its two-day policy meeting on Wednesday.

Data showed an acceleration in producer prices last month as supply chains struggled to meet demand unleashed by the reopening of the economy. A separate report showed U.S. retail sales dropped more than expected in May. read more