The US markets closed off their best levels. However, the Dow still logged its best level in nearly five years, ahead of a key decision from the German Constitutional Court and possible action from the Federal Reserve. Ratings agency Moody's said the US could lose its triple-A debt rating if next year's budget negotiations do not produce a downward trend in the country's debt to GDP ratio. However, the markets largely shrugged off the warning. The Federal Reserve's begins its 2-day policy meeting today. The Fed appears poised to launch a third round of large-scale asset purchases or QE 3 and policymakers may also extend their low-interest-rate guidance into late 2015.