Lackluster forecasts from Cisco Systems Inc. and Federated Department Stores Inc. pushed stocks lower Wednesday as anxious investors awaited the Federal Reserve’s impending decision on interest rates.
Trading was likely to be volatile as Wall Street looked ahead to the Fed’s policy statement Wednesday afternoon. While the central bank was expected boost short-term lending rates to 5 percent, investors were fixated on whether Fed would indicate that more increases could be in store.
