Stocks Closed Lower as Fed Met and Brexit Fears Rose

U.S. stocks closed lower on Tuesday as the Federal Reserve kicked off its two-day policy meeting and fears over the U.K. voting to leave the European Union amped up. The Dow Jones Industrial Average fell 57.66 points, or 0.33%, to 17,674.82. The S&P 500 declined 3.74 points, or 0.18%, to 2,075.32. The Nasdaq Composite slipped 4.89 points, or 0.10%, to 4,843.55.

The Federal Reserve is expected to keep interest rates unchanged on Wednesday as a result of the weak May jobs report but a hike as soon as July is not far-fetched, based on a close examination of where officials stand.

The European Central Bank stands ready to work with the Bank of England to provide additional liquidity to financial markets if the U.K. votes to leave the European Union next week.

Uber Technologies Inc. is turning to the so-called leveraged-loan market for the first time to raise as much as $2 billion, in a sign of the popular ride-sharing network’s hunger for cash as it expands around the world.

A U.S. appeals court upheld the Obama administration’s landmark rules barring internet service providers from obstructing or slowing down consumer access to web content on Tuesday, dealing a blow to big cable and mobile phone companies.

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