The Fed is widely expected to leave interest rates unchanged, but the central bank's accompanying statement could have a significant impact on the outlook for rates. Fed Chair Jerome Powell and his colleagues will update their economic and rate projections later in the day.
At closing bell, the benchmark S&P/ASX200 index was down 7.47 points, or 0.1%, to 7,695.76. The broader All Ordinaries index fell 3.28 points, or 0.04%, to 7 954.48.
Total 7 of 11 sectors were lower along with the S&P/ASX 200 Index. Energy was the best performing sector, gaining +0.60%. Information technology and utilities sectors were bottom performer, both falling 0.5%.
The top performing stocks in S&P/ASX200 index were PALADIN ENERGY and TELIX PHARMACEUTICAL, up 5.6% and 2.88% respectively. The bottom performing stocks in S&P/ASX200 index were RED 5 and SOUTH32, down 4.29% and 4.17% respectively.
Shares of information technology sector were biggest drag on the market, with WiseTech erasing 0.6%, while Xero lost 0.9% and TechnologyOne fell 0.9%.
Utilities and consumer staples stocks also declined. AGL lost 2.1% and supermarket giant Woolworths shed 1.1%.
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