Stocks Opened Lower ahead of Federal Reserve Decision

U.S. stocks opened lower on Wednesday, ahead of the release of the Federal Reserve’s latest policy decision. The Dow Jones Industrial Average lately fell 114.30 points, or 0.44%, to 25,773.08. The S&P 500 lost 7.57 points, or 0.27%, to 2,825.00. The Nasdaq Composite fell 5.63 points, or 0.07%, to 7,718.32.

Oil futures pulled back on Wednesday amid expectations that major global producers outside the U.S. are expected to continue to keep a lid on output. April West Texas Intermediate crude fell 52 cents, or 0.8%, at $58.51 a barrel. May Brent crude fell 21 cents, or 0.3%, to $67.40 a barrel.

The Federal Open Market Committee (FOMC) concludes its two days of meetings Wednesday, then will release its latest policy statement at 2 p.m. ET. Markets have widely priced in the outcome that benchmark interest rates will remain unchanged at between 2.25% and 2.5%.

Advanced Micro Devices Inc. shares rallied 12 percent Tuesday as Google unveiled its video-game streaming service that will use AMD processors, even though analysts said the chipmaker’s involvement was already known.