Markets jitter ahead of the Fed policy meeting decision today, with Asian stocks ending the session mixed after an intensely volatile Wall Street session. With Expectations pointing heavily to a hawkish fed and the like hood of Jerome Powell stressing on higher inflation and a March hike rate, which is kind of already priced in however since markets have been down a rollercoaster this past week, investors remain worried about what he has to say especially with chances of aggressive tightening as well.

The first Fed meeting of the year comes at a difficult time for the stock market as they get affected by geopolitical woes. As Russian troops at the Ukraine border send an even more cautious sentiment amongst traders.

Overnight, The S&P reversed earlier gains ending the session at the lowest level since October 2021 and the Nasdaq too ended up with a steep loss of -315.83 points. Both reversing Tuesday's abrupt gains after the S&P had dropped 10% only to make a U-turn at the last 10 minutes of the session.

In Commodities, Oil traders focus on crude stockpile draws and Eastern Europe tensions. Supply tensions pushed oil prices higher by 2%. And at the opening of the U.S. Session oil surpassed its highest-level hit since 2014 over further intensified tensions in the middle east and further supply disruptions. Brent crude futures rose to a peak near $90 (view the below chart) while WTI headed towards levels of $87.