"US Stocks Brace for Fed's Next Move, Market Slumps"

US stocks slumped as investors awaited the Federal Reserve's next interest rate decision. All three benchmark indexes closed lower, with the Dow losing over 100 points. Markets are pricing in a high chance of rates being kept level on Wednesday, but some traders expect one more rate hike before year-end. Oil prices remained near 10-month highs, while a key barometer of China's economy and US housing starts signaled warning signs. Tech stocks could rally due to increased AI spending, and the stock market is seen as a good deal for wealth-building.