Wall Street opens lower ahead of US Fed Reserve meeting, Apple results

NEW YORK (AFP) - Wall Street stocks opened lower Monday at the start of a jam-packed news week that includes a Federal Reserve policy meeting and earnings from Apple and other US business giants.

Five minutes into trade, the Dow Jones Industrial Average was at 17,954.10, down 49.65 points (0.28 per cent).

The broad-based S&P 500 fell 4.93 (0.24 per cent) to 2,086.65, while the tech-rich Nasdaq Composite Index dropped 8.16 (0.17 per cent) to 4,898.07.

The Fed is widely expected to keep interest rates unchanged Wednesday in the wake of worries about the global economy. But the central bank's policy statement will be scrutinized for the odds of an interest rate hike in June, or later in 2016.

Apple shares have been under pressure at times in the last couple of weeks on reports that iPhone sales are slowing. It reports second-quarter results after the market closes.

Other companies reporting earnings this week include Boeing, Procter & Gamble and ExxonMobil.