Financial markets moved cautiously ahead of the FOMC meeting and release of a number important US data on Wednesday. Wall Street changed little with the DJIA and the S&P 500 indices closed largely flat. In the commodity sector, the front-month contract for WTI crude oil plunged to a 3-week low of 102.67 before ending the day at 103.08, down -1.41%, while Brent crude contract slipped -0.50% during the day. The selloff was driven by concerns over US’ economic recovery.
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WTI Crude Plunged to 3-Week Low amid Concerns Over US Recovery
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