US Stocks End Choppy Session Mostly Lower

US stocks ended a volatile session mostly lower on Wednesday, amid recession fears and uncertainty around the path of Federal Reserve rate hikes.

The S&P 500 lost 0.2% to 3934, booking its fifth session of losses and the Nasdaq declined for a fourth day to close 0.5% lower at 10959.

Apple shares were down more than 1% after Morgan Stanley reduced its Apple iPhone shipment forecast.

Shares of Tesla lost nearly 3% amid production concerns, after the carmaker cut December output of the Model Y at its Shanghai plant.

Meanwhile, the Dow Jones ended little changed at 33957, with 3M among the top performers.

Traders now await further economic data due this week including jobless claims, PPI and the Michigan consumer sentiment, ahead of key inflation rate and Fed's monetary policy decision next week.

The central bank is expected to deliver a smaller 50bps increase in the fed funds rate.