U.S. Stocks Open Lower After Apple Results; Investors Look Ahead To Fed

U.S. stocks fell in early trading on Wednesday, a day after Apple Inc. reported disappointing revenue and gave a sales forecast that was below expectations. The Dow Jones Industrial Average fell 44 points, or 0.2%, to 20,906. The S&P 500 lost 7 points to 2,384, a decline of 0.3%. The Nasdaq Composite Index slid 22 points to 6,073, a drop of 0.4%. The tech-heavy Nasdaq was particularly pressured by Apple , the largest U.S. company by market capitalization, which fell 1.5%. Trading is expected to be subdued as investors await a closely watched policy update from the Federal Reserve, which will be released at 2 p.m. Eastern. While the Fed is expected to keep rates on hold, investors will scrutinize the accompanying statement for clues about the pace of future rate increases.