Thanks afternoon crew. End-of-day summary: The share market let...

Thanks afternoon crew.

End-of-day summary:

The share market let a third day of gains slip through its fingers as US equity futures retreated ahead of tonight's Federal Reserve rates verdict.

The ASX 200 finished seven points or 0.1% in the red after being up as much as 35 points in morning action. The market peaked in the first half hour and faded from there despite a temporary mid-session revival.

The heavily-weighted material and financial sectors joined utilities, consumer staples, tech and healthcare in the red. Energy and communications were the best of the sectors.

US stock futures drifted lower this afternoon as the market awaits to hear from the central bank. While no change is expected to the federal funds target rate, recent moves on futures markets suggest rate cuts may be further away than investors anticipated at the start of this month. S&P 500 futures eased 0.14%.