Market Turbulence: Fed's Decision Looms Amid Global Uncertainty

Wall Street plunged as investor anxiety escalated amid global uncertainties and the U.S. Federal Reserve's meeting. Gold surged to all-time highs, while geopolitical tensions and economic shifts in Europe added to the volatility. U.S. markets saw a significant downturn, especially tech stocks, amid a critical monetary policy decision.

Wall Street took a nosedive, and gold prices soared to unprecedented levels on Tuesday as the U.S. Federal Reserve began its pivotal two-day monetary policy meeting amid growing economic uncertainties.

Middle Eastern turmoil intensified with deadly Israeli missile strikes in Gaza, while Russian President Putin agreed to pause targeting Ukrainian energy targets, slightly easing geopolitical tensions. European and German stock markets witnessed gains following Germany's decisive government spending reforms.

Major U.S. stock indexes suffered, particularly tech-heavy Nasdaq. As the Fed's outcome is awaited, economic indicators show resilience through robust housing starts and industrial output, hinting at a stable U.S. economy despite broader concerns.

(With inputs from agencies.)