U.S. stocks open slightly lower ahead of Fed meeting

U.S. stocks opened slightly lower Tuesday, as investors brace for the Federal Reserve’s two-day policy meeting that will conclude on Wednesday with a decision on interest rates. The Dow Jones Industrial Average DJIA, -0.11% was down 0.2% soon after the bell, while the S&P 500 SPX, -0.26% fell 0.2% and the Nasdaq Composite COMP, -0.45% shed 0.4%, according to FactSet data, at last check.

Traders have been expecting that the Fed will announce on Wednesday that it’s keeping its benchmark rate steady at a targeted range of 5.25% to 5.5% and will be watching for clues about the central bank’s future path of monetary policy. Meanwhile, investors were digesting fresh economic data on Tuesday that showed construction of new homes in the U.S. fell in August amid elevated mortgage rates while building permits increased.

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