Stocks have moved modestly lower in early trading on Wednesday, giving back some ground after closing higher in the two previous sessions. The major averages have dipped into negative territory, although selling pressure remains subdued.
While some traders are cashing on the gains posted over the past two days, most seem to be staying on the sidelines ahead of the Federal Reserve's highly anticipated monetary policy announcement.
The Fed is not expected to announce an immediate change in policy, but traders will be looking for any signals regarding when the central bank will scale back its asset purchase program.
Healthcare provider, telecom, and banking stocks are seeing some weakness in early trading, although most of the major sectors are showing only modest moves.
The major averages have edged up off their lows for the young session in the past few minutes but remain in the red. The Dow is down 36.40 points or 0.2 percent at 15,281.83, the Nasdaq is down 3.46 points or 0.1 percent at 3,478.72 and the S&P 500 is down 3.89 points or 0.2 percent at 1,647.92.
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