NEW YORK (AP) - Stocks in the U.S. and other global markets fell for a fourth day Tuesday as jittery investors await for the Federal Reserve's decision on interest rates and worried about Britain's expected close vote on whether to leave the European Union.
Credit card company stocks fell sharply after Synchrony Financial, the country's leading issuer of store brand credit cards, warned more of its customers were falling behind on payments.
The Dow Jones industrial average fell 57.66 points, or 0.3 percent, to 17,674.82. The Standard & Poor's 500 index fell 3.74 points, or 0.2 percent, to 2,075.32, and the Nasdaq composite fell 4.89 points, or 0.1 percent, to 4,843.55.
As stocks declined, U.S. government bond yields remained at their lowest levels since 2012 as investors sought safety ahead of the Fed meeting and the vote in Britain. The yield on the 10-year Treasury note was 1.62 percent, up slightly from a day earlier.
The Federal Reserve's two-day meeting started Tuesday, with a decision on interest rates to be announced today. The Fed had been expected to raise interest rates, but following some weak economic data, including the most recent monthly jobs report, it now appears likely to wait.
Most investors are focused overseas right now. There is grave uncertainty about whether British voters will choose to leave the European Union in a June 23 referendum. Polls show the vote could go either way, and investors are starting to worry about the consequences.
A British exit from the EU, known informally as Brexit, would likely hurt the British economy most and destabilize the rest of Europe. The repercussions, however, are not clear, and investors are reacting to the general uncertainty over the situation.