Wed Sep 17 18:10:00 UTC 2025: **News Article:**
**Wall Street Mixed Ahead of Expected Fed Rate Cut; Nvidia Slides on China Report**
NEW YORK, Sept 18 (Reuters) – U.S. stock indexes were mixed on Wednesday morning as investors awaited an anticipated interest rate cut from the Federal Reserve. The S&P 500 remained largely flat as the market braced for the Fed’s announcement, expected at 2 p.m. ET.
The Dow Jones Industrial Average saw gains, climbing 0.65%, while the Nasdaq Composite fell 0.51%, dragged down by a significant drop in Nvidia.
Nvidia shares tumbled 3.1% following reports that Chinese regulators had instructed major tech companies to halt purchases of the company’s AI chips. This news also impacted the broader semiconductor sector, threatening to end a nine-day winning streak.
Adding to the market activity, Workday shares surged 8% after Elliott Management disclosed a stake exceeding $2 billion in the company. Lyft also experienced a significant jump of 13.8% on news of a partnership with Waymo to launch autonomous cab rides in Nashville.
The expected Fed rate cut is anticipated to be at least 25 basis points, a move already priced in by investors due to recent economic data indicating a weakening labor market. Investors will be closely monitoring Chair Jerome Powell’s press conference and dot plot projections for insights into the Fed’s future monetary policy outlook.
“Cutting rates while inflation is still running ahead of their target suggests that they (the Fed) are concerned with the health of the economy and employment backdrop,” said Todd Basnight, director of equity research at Aureus Asset Management.
The market’s reaction to the Fed’s decision will be a key test of the recent rally, which has been fueled by rate cut expectations and renewed interest in AI-related stocks.
First Piper 