The S&P 500 and the Nasdaq treaded water on Wednesday, as losses in tech heavyweights Apple and Nvidia limited broader gains and investor focus turned to the U.S. Federal Reserve's interest-rate decision,

Markets widely expect the central bank to hold its lending rate steady in its decision, expected at 2 p.m. ET.

The Nasdaq and other major indices declined following the Federal Reserve’s first meeting of the year, with the tech-heavy index falling 1.1% by the afternoon as investors digested the central bank’s cautious stance on interest rates.

The S&P 500 and the Nasdaq slipped on Wednesday, as losses in tech heavyweights Apple and Nvidia pressured broader gains and cautious investors braced for the U.S. Federal Reserve's interest-rate decision,

US stocks faced a decline on Wednesday after the Federal Reserve decided to leave interest rates unchanged, signaling a cautious approach toward inflation. Investors reacted to the news with a pullback,