U.S. stocks open lower ahead of Fed meeting

U.S. stocks opened slightly lower on Tuesday as investors were cautious ahead of the Federal Reserve's meeting and Greece's debt talks continued to weigh on market sentiment.

The Fed kicks off its two-day meeting Tuesday. While it is unlikely to raise interest rates at this meeting, investors will still watch the central bank's statement and Fed Chair Janet Yellen's news conference for clues on the timing of a possible rate hike.

Traders will watch closely on how officials view the U.S. economy as well. The Fed has said it will raise rates only when it sees an improvement in the economy.

Hopes to strike a deal now move to Thursday's Eurogroup meeting in Luxembourg, which many believe is the last chance before Greece's EU bailout expires at the end of June.

Athens does not have plans to present new proposals at that meeting, Greek Finance Minister Yanis Varoufakis told a German newspaper, despite warnings from the rest of Europe that time is running out.

Shortly after the opening bell, the Dow Jones Industrial Average slightly decreased 14.19 points, or 0.08 percent, to 17,776.98. The S&P 500 ticked down 2.27 points, or 0.11 percent, to 2,082.16. The Nasdaq Composite Index edged down 4.58 points, or 0.09 percent, to 5,025.40.

U.S. stocks continued to drop Monday as a breakdown in Greece bailout talks weighed on market sentiment. Endi