Stocks Fell at Open ahead of Fed Decision

U.S. stocks fell at the open on Monday, as investors await a key policy decision from the Federal Reserve. The Dow Jones Industrial Average lately sank 274.95 points, or 1.14%, to 23,825.56. The S&P 500 declined 29.44 points, or 1.13%, to 2,570.51. The Nasdaq Composite dropped 92.89 points, or 1.34%, to 6,817.78.

Oil futures moved higher Monday, as the market attempted to stabilize following another weekly loss and traders focused on output cuts by major producers set to take effect early next year. West Texas Intermediate crude for February delivery rose 50 cents, or 1%, to $51.70 a barrel. February Brent was up 68 cents, or 1.1%, to $60.96 a barrel.