Stock markets mostly drop awaiting Fed policy update [Video]

Major stock markets mostly fell Tuesday as attention turned to the Federal Reserve’s upcoming policy decision, with traders hoping for guidance on its interest rate plans as president-elect Donald Trump prepares to take office.

Wall Street ended mostly on the front foot Monday, with a surge in tech giants helping the Nasdaq to a record high, but Asia was unable to pick up the baton Tuesday.

London slid in late morning deals as official data showing a jump in UK wages growth cemented forecasts that the Bank of England will avoid cutting interest rates this week.

Paris and Frankfurt rose, as investors looked past news that German business confidence this month hit the lowest level since the start of the coronavirus pandemic.

Bitcoin traded close to a record high of almost $107,791 reached Monday on continued optimism that Trump will introduce measures to deregulate the cryptocurrency market.

Oil prices retreated, …