Wall Street dips after S&P 500 hits record high; Fed meeting in focus

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By Shashank Nayar and Medha Singh (Reuters) – U.S. stocks eased on Tuesday after the S&P 500 hit a record high earlier in the session, as investors awaited cues from the Federal Reserve about whether a recent jump in inflation would prompt a sooner-than-expected tapering in monetary policy. Assurance from the Fed that rising prices, coupled with falling U.S. Treasury yields, are transitory have helped ease some concerns over inflation with all eyes turning to the central bank’s statement at the end of its two-day policy meeting on Wednesday. The benchmark S&P 500, the blue-chip Dow Jones and t…

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