US stocks inch down as investors wait on Fed
NEW YORK (AP) - The stock market is waiting on the Fed.
Major indexes drifted sideways on Wednesday morning as traders wondered what the Federal Reserve will say about the US economy and the central bank's huge stimulus programme.
The Dow Jones industrial average fell 15 points, or 0.1 per cent, to 15,303 as of 11 am (11pm on Wednesday, Singapore time).
The Standard & Poor's 500 index dropped two points, or 0.1 per cent, to 1,650. Six of the 10 industry groups in the index fell. Telecommunications stocks fell the most, 0.9 per cent.