Stocks waver ahead of Federal Reserve meeting

By Nicole Goodkind, CNN Business

US stocks wavered on Monday ahead of the Federal Reserve’s two-day policy meeting later this week.

The Dow and the S&P 500 were mostly flat while the Nasdaq Composite was 0.2% lower.

The bond market reached its highest level in 100 years ahead of what is likely to be a decision by the central bank to raise interest rates by another three-quarters of a percentage point this week. The benchmark US 10-year Treasury note reached 3.5%, its highest level since 2011. The two-year Treasury note reached 3.9%, a 15-year high.

In addition to the Fed meeting, 16 other global central banks, including the Bank of England, are expected to further tighten monetary policy this week.

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