US stocks closed lower on Tuesday, as investors remained cautious ahead of the Federal Reserve’s final interest rate decision for the year.

The S&P 500 lost 0.4 percent as it suffered broad declines in all sectors except consumer cyclicals. The biggest declines are financial, industrial and utilities.

The tech-heavy Nasdaq Composite fell 0.3 percent. Four of the so-called Magnificent Seven major technology stocks declined, with Nvidia shedding 1.2 percent. Tesla, meanwhile, added 3.6 percent, hitting a new record high.

The Fed is expected to cut interest rates by a quarter point on Wednesday.