Wall Street slides as yields remain in focus ahead of the FOMC rate decision

Major Wall Street indices pulled back on Tuesday as investors turned cautious ahead of the Federal Reserve's upcoming interest rate decision. Market sentiment was weighed down by persistent focus on elevated Treasury yields, leading to broad-based softness across equities as market participants positioned themselves ahead of the monetary policy announcement. The blue-chip Dow Jones Industrial Average retreated 0.6% to trade around 52,085.19, underperforming broader benchmarks. Concurrently, the benchmark S&P 500 slid 0.16% to 7,607.58, while tech-heavy gauges also saw modest declines. Pressure across major equities reflected investor hesitation to take on additional risk while sovereign debt yields stay elevated. Looking ahead, market participants remain focused on the Federal Open Market Committee's interest rate trajectory and macroeconomic commentary. Key sector movers during the session included declines in major individual components such as Johnson & Johnson and Apple, counterbalanced by modest gains in selective consumer equities.