US stocks edge lower as investors eye Fed

NEW YORK, June 18 (AFP): Wall Street stocks Wednesday opened slightly lower as investors looked ahead to a policy announcement from the US Federal Reserve later in the day.

Six minutes into trade, the Dow Jones Industrial Average fell 27.00 points (0.16 per cent) to 16,781.49.

The broad-based S&P 500 slipped 0.15 of a point (0.01 per cent) to 1,941.84, while the tech-rich Nasdaq Composite Index lost 0.28 (0.01 per cent) at 4,336.96.

The Fed announcement, scheduled for 1800 GMT, is expected to continue a plan to gradually end its stimulus program by further reducing bond purchases, currently at $45 billion a month.

But analysts will scrutinize Fed Chair Janet Yellen's news conference for any hint of changes to the trajectory for interest rates.