Stocks opened sharply lower Wednesday, as investors focused on a stream of earnings reports from technology companies and awaited the outcome of the Federal Reserve’s first policy meeting of 2021.
What’s driving the market? Investors continued to sift through a heavy round of corporate earnings, including results from Microsoft Corp. MSFT, +1.61%, which reported strong results late Tuesday. Updates from Facebook Inc. FB, -2.93%, Apple Inc. AAPL, -0.09% and Tesla Inc. TSLA, -0.50% are due after the closing bell Wednesday.
The Federal Reserve will conclude its first policy meeting of 2021 on Wednesday afternoon, releasing a policy statement at 2 p.m. Eastern, followed by Chairman Jerome Powell’s news conference at 2:30 p.m.
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