Stocks post back-to-back losses Tuesday ahead of Fed decision on interest rates

U.S. stocks finished lower Tuesday for a second straight session, with risk appetite waning a day before the conclusion of a two-day Federal Reserve meeting that is expected to produce another jumbo increase to the central bank’s policy rate. The Dow Jones Industrial Average
DJIA,
-0.24%
shed about 82 points, or 0.3%, ending near 32,650. The S&P 500 index
SPX,
-0.41%
closed down 0.4% and the Nasdaq Composite Index
COMP,
-0.89%
declined by 0.9%, according to FactSet. Earlier gains for major equity benchmarks were erased Tuesday after an economic report showed the number of jobs openings for September rose to 10.7 million, which was below the 11.9 million record in March but likely still too high for Fed officials hoping that previous rate hikes would have helped to cool inflation and bring job openings back down to a historical norm. Higher rates this year have dramatically cooled the U.S. housing market, putting record prices in some regions in retreat. Borrowing costs also have shot higher for households and companies. Ford Motor Credit, the financing arm of Ford Motor Co.,
F,
+0.22%
was looking to borrow at least $1 billion on Tuesday in the bond market, despite corporate bond yields that have hit their highest level since 2009.