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Wall Street Slips Before Fed Decision as Tokyo Rebounds From Early Losses

Rate‑cut expectations kept semiconductor shares active.

Overview

  • On Sept. 16, the Dow fell 125.55 points to 45,757.90 and the Nasdaq edged down 14.79 to 22,333.96 as traders waited for the FOMC outcome.
  • Tokyo opened lower on Sept. 17 with the Nikkei at 44,651.57 at 9:15 a.m., then recovered to 44,995.79 at the morning close after buying in semiconductor names briefly lifted it back above 45,000.
  • The Nikkei had closed at a record 44,902.27 on Sept. 16 after topping 45,000 intraday for the first time, with TOPIX also setting record highs.
  • The dollar–yen pair held in the mid‑146 range, with quotes around ¥146.35 to ¥146.55 during the latest sessions.
  • The week’s moves followed a Sept. 15 rally that saw the Dow up 49.23 to 45,883.45 and record highs for the Nasdaq and S&P 500 on expectations of renewed Fed rate cuts and perceived progress in U.S.–China talks, including a TikTok framework and reduced tariff risk.