Stock Market Today: Stocks Drop Ahead of Fed Announcement, Klaviyo IPO
Instacart's successful IPO stood out in an otherwise down day on Wall Street. Stocks closed lower Tuesday as uncertainty around the Federal Reserve's future policy plans kept market participants on edge. Rising oil prices did little to lift investor sentiment, either, with worries percolating about higher energy costs keeping inflation – and interest rates – higher for longer.The Federal Reserve kicked off its two-day policy meeting today, with a decision and press conference from Fed Chair Jero