Stocks Up Slightly Ahead of Fed Meeting; Nvidia Unveils AI Chip but Crypto Drops
• Major indexes rose slightly ahead of closely watched Fed meeting; decision on interest rates expected Wednesday • Nvidia unveiled new AI chip "Blackwell" but stock only closed up 1% despite analysts' bullish outlooks • Bitcoin saw sudden drop to $63K, dragging down crypto-linked stocks like MicroStrategy, Tesla, Coinbase • Dow had best day since February, gaining over 300 points • Fed expected to maintain interest rates within 5.25-5.5% range as inflation remains high but below 2022 peak