Wall Street edges lower as FedEx profit warning drags; Fed in focus

REUTERS: U.S. stocks came under pressure on Wednesday after FedEx issued a profit warning, while investors waited for the Federal Reserve's decision on interest rates in what has been a rocky week for global markets.

The central bank is expected to lower interest rates by a quarter percentage point for the second time in three months, but a deep divide among policymakers has seen traders abandon all bets on a third reduction this year. Equity markets took a hit on Monday after attacks on Saudi Arabia's largest oil refinery sparked concerns about a supply shortage, leading to a spike in oil prices. However, a reassurance by Saudi Arabia that it would quickly to restore full production calmed investor nerves.

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