U.S. stocks opened lower on Tuesday as the Federal Reserve kicked off its two-day day meeting.
The Nasdaq Composite was down 0.1% to 8,319. The S&P 500 was down 0.1% to around 3,035, a day after the equity benchmark set a new record close of 3,039.42. The Dow Jones Industrial Average shed 46 points, or 0.1%, to 27,044.
Market participants are mostly expecting the U.S. central bank to lower rates by quarter point for a third time this year, even as the prospect of additional cuts beyond this week's meeting appeared less clear-cut. Investors will later get a glimpse of consumer confidence, amid questions whether households will buckle to the growth headwinds afflicting the trade-battered manufacturing sector.
During a busy week for corporate earnings, shares of Google parent Alphabet Inc. edged lower after the company reported late Monday that third-quarter earnings had missed Wall Street forecasts.
Source : MarketWatch