Dow edges lower as traders await pivotal Fed decision

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Stocks opened Wednesday with minor losses, pulling back from record finishes for major indexes, as investors stuck to the sidelines ahead of an eagerly anticipated decision by the Federal Reserve. The Dow Jones Industrial Average was down 51 points, or 0.1%, at 36,001, while the S&P 500 edged down 4 points, or 0.1%, to 4,627. The Nasdaq Composite was down 18 points, or 0.1%, at 15, 631. The Fed is expected to begin scaling back monthly asset purchases, with investors focused on whether Chairman Jerome Powell pushes back against rising expectations for rate increases to begin in mid-2022. The Fed decision is due at 2 p.m. Eastern, followed by Powell’s news conference at 2:30 p.m.

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