Stocks edged lower in morning trading on Wall Street Monday as the market expects another huge interest rate hike this week from the Federal Reserve. The S&P 500 fell 3.24 points or 0.08% to 3,870.09 as of 10:17 am Eastern Time. The Dow Jones Industrial Average fell 27 points or 0.1% to 30,799. The Nasdaq fell 17.44 points or 0.15% to 11,430.96.

Healthcare stocks were among the biggest losers on the stock market. Pfizer slipped 2.1%. Energy stocks also fell as US crude oil prices decreased 1.5%.

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Wall Street remains concerned about inflation and the Federal Reserve’s attempt to lower prices by aggressively raising interest rates. On Wednesday, the Fed will announce its latest decision on rates and is likely to hike its benchmark rate, which influences interest rates throughout the economy, another 75 basis points (bps).

The yield on the two-year Treasury, which tends to follow expectations for Fed action, increased to 3.96% from 3.87% late Friday. The 10-year yield, which helps determine mortgage rates, rose to 3.49% from 3.45%.

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The broader market is coming off its worst week in three months after a hotter-than-expected inflation report and big companies warning about worsening economic trends.

Investors have been worried that the central bank could raise rates too high and too and put the economy into a recession. The higher rates also tend to weigh on stocks, especially in the pricier technology sector.

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Wall Street will get another update on the housing sector on Wednesday when the National Association of Realtors announced August data for sales of previously occupied homes.

Average long-term US mortgage rates jumped above 6% last week for the first time since the housing crash of 2008. The higher rates could make an already tight housing market even more expensive for American homebuyers.

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Britain was observing a day of mourning for Queen Elizabeth II. Germany’s DAX added 0.1% while the CAC 40 in Paris fell 0.6%. Hong Kong’s Hang Seng lost 1% and the Shanghai Composite index slipped 0.3%. Japan’s markets were closed for a holiday.