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U.S. stocks open lower ahead of Fed meeting

Xinhua, March 14, 2016 Adjust font size:

U.S. stocks opened lower on Monday, as investors were cautious ahead of a key meeting of the Federal Reserve.

Fed will kick off its March policy meeting on Tuesday and hold a press conference on Wednesday.

Oil prices fell on Monday, with the West Texas Intermediate for April delivery off more 2.5 percent in the early trading.

There is no major economic data due out Monday.

U.S. stocks have risen for the past four weeks, buoyed by rebounding commodities prices, beating economic data, and stimulus announcements from the European Central Bank (ECB).

Shortly after the opening bell, the Dow Jones Industrial Average lost 36.67 points, or 0.21 percent, to 17,176.64. The S&P 500 fell 5.66 points, or 0.28 percent, to 2,016.53. The Nasdaq Composite Index was down 10.74 points, or 0.23 percent, to 4,737.73.

U.S. stocks posted solid gains last Friday, as investors continued to assess the impacts of an ECB decision to cut its benchmark interest rate to a record low of zero percent. Endi