Now only two sessions out from Wednesday's highly anticipated Fed meeting, the market cooled from last week's resounding wins to finish red across the board. The Nasdaq and S&P 500 both inched lower, marking their first losing session in five as rising bond yields weighed. The Dow backpedaled a steep 215 points, despite CME's FedWatch tool pricing in a 90% chance of a rate cut. 

FED JITTERS PRESSURE COMMODITIES LOWER

The upcoming Fed decision and ongoing talks between Russia and Ukraine kept pressure on crude traders. January-dated West Texas Intermediate (WTI) crude shed $1.20, or 2%, to close at $58.88 per barrel.

Rate-cut buzz and Fed Chair Jerome Powell's subsequent speech are also in focus among safe haven traders. February-dated gold closed 0.6% at $4,217.7 per ounce on the day.

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