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U.S. stocks slip ahead of Fed meeting

Xinhua, March 14, 2016 Adjust font size:

U.S. stocks traded mostly lower in the morning session on Monday, as investors were cautious ahead of the U.S. Federal Reserve meeting.

By noon, the Dow Jones Industrial Average lost 12.60 points, or 0.07 percent, to 17,200.71. The S&P 500 fell 6.28 points, or 0.31 percent, to 2,015.91. The Nasdaq Composite Index edged down 0.84 points, or 0.02 percent, to 4,747.62.

The 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 tumbling more than 4 percent around midday.

There is no major economic data due out Monday.

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

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