MW: U.S. stocks open lower ahead of Federal Reserve's policy statement
U.S. stocks opened lower on Wednesday as investors braced for the Federal Reserve's decision on interest rates expected at 2 p.m. Eastern. A pair of economic reports pointed to a robust housing market and firming consumer prices. The data were taken as an indication that the Fed might have enough ammunition to raise rates later this year. The S&P 500 SPX, +0.03% opened 2 points, or 0.1%, lower at 2,013. The Dow Jones Industrial Average DJIA, -0.04% dropped 22 points, or 0.1%, to 17,225. Meanwhile, the Nasdaq Composite COMP, +0.13% began the day down 11 points, or 0.2%, at 4,718.
