Stocks Opened Lower with Fed Meeting in Focus

U.S. stocks opened lower on Tuesday as investors fixed their sights on the outcome of a meeting where the Federal Reserve is widely expected to raise interest rates for the first time this year. The Dow Jones Industrial Average lately fell 16.99 points, or 0.08%, to 20,864.49. The S&P 500 lost 6.19 points, or 0.26%, to 2,367.28. The Nasdaq Composite slid 19.52 points, or 0.33%, to 5,856.26.

Crude futures reversed direction and turned lower on Tuesday, after a monthly report from the Organization of the Petroleum Exporting Countries showed production out of Saudi Arabia cresting back above 10 million barrels of oil per day. Light, sweet crude for April delivery tumbled 77 cents, or 1.6%, to $47.64 a barrel. Brent dipped 70 cents, or 1.4%, to $50.64 a barrel.

Verizon Communications sought almost triple the price reduction that it ultimately obtained for Yahoo’s core assets following two massive cyber attacks at the internet company, according to a Yahoo filing.

Volkswagen Chief Executive Matthias Mueller said he did not rule out he could hold merger talks with Fiat Chrysler boss Sergio Marchionne, in a marked change of tone by the German carmaker toward its Italian-American peer.