The Nasdaq stays under pressure as traders hedge into the FOMC decision risk

The article says the Nasdaq is under pressure as traders hedge ahead of the FOMC rate decision. Markets had recently rebounded after reports that Trump canceled planned strikes on Iran and a US-Iran deal lowered geopolitical risk, improving the outlook for oil, inflation, and growth. However, investors are now cautious ahead of the Fed, which is expected to hold rates steady, remove its easing bias, and signal no cuts this year or next. The key risk is a hawkish surprise in the dot plot or Chair Warsh’s comments, which could send the Nasdaq back toward pre-deal levels. A dovish surprise could extend the rally to new highs. Technically, the index is holding around 29,800 support, with 28,700 identified as a key downside level. Upcoming catalysts include the FOMC decision today, US jobless claims tomorrow, and a possible US-Iran peace deal signing on Friday.