US stocks open lower ahead of Fed decision
Xinhua
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NEW YORK, Sept. 17 (Xinhua) - US stocks opened lower on Tuesday as investors are awaiting a key announcement on monetary policy from the Federal Reserve (Fed).

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Traders work on the floor at the New York Stock Exchange (NYSE) in New York, US, September 5, 2019. (Photo: VCG)

Shortly after the opening bell, the Dow Jones Industrial Average dropped 63.31 points, or 0.223 percent, to 27,013.51. The S&P 500 slid 1.17 points, or 0.06 percent, to 2,996.19. The Nasdaq Composite Index decreased 5.88 points, or 0.07 percent, to 8,147.66.

Of the 11 primary S&P 500 sectors, the energy declined more than 1 percent shortly after the opening, leading the laggards. The real estate rose about 1 percent, outperforming the rest.

The US central bank is scheduled to held its September monetary policy meeting from Tuesday to Wednesday and it is expected to announce its latest decision on interest rate Wednesday afternoon.

Market expectations for a 25-basis-point rate cut were at 63.5 percent, according to the CME Group's FedWatch tool.