Wall Street subdued, gold slides ahead of CPI, Fed

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Key Points

NEW YORK (Reuters) -U.S. stocks were muted and gold slid on Wednesday, as investors bided their time ahead of crucial inflation data and the U.S. Federal Reserves monetary policy meeting...

Gold dropped to a near three-week low as the dollar firmed and Treasury yields moved higher...

On Tuesday, the Labor Department is expected to release its closely watched Consumer Price Index (CPI) report, which is expected to show inflation continues to cool but remains well above the Feds 2% annual target...

Also on Tuesday, the Federal Open Markets Committee (FOMC) is due to convene for its two-day monetary policy meeting, which will culminate on Wednesday with its interest rate decision and the release of its summary economic projections...

European shares were slightly higher as market participants stood pat in advance of critical U.S. economic data and interest rate decisions from the Fed and other major central banks...

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