US stocks zigzag and Treasury yields rise ahead of key Fed meeting

US stocks began the week with cautious trading and the yields on government debt pushed higher as investors looked ahead to the prospect of additional monetary policy tightening by the Federal Reserve.

The broad S&P 500 index inched lower by 0.3 per cent in early afternoon trading on Wall Street, while Europe’s region-wide Stoxx 600 slipped 0.1 per cent. The S&P had been down as much as 0.9 per cent earlier on Monday.

The yield on…