US stocks open mixed before Fed's interest rate decision

ISTANBUL

Major US stock exchanges opened mixed Wednesday before the conclusion of the Federal Reserve's two-day monetary policy meeting.

The Dow Jones industrial average fell almost 53 points, or 0.13%, to 41,553 at 9.48 a.m. EDT (1348GMT).

The S&P 500, on the other hand, was mostly unchanged at 5,634.

The Nasdaq Composite, meanwhile, added nearly 12 points, or 0.07%, to 17,640.

The Fed is expected to begin lowering interest rates at the conclusion of its meeting, but the magnitude remains in question.

The probability of a rate cut of 25 basis points stood at 37% at the time, while a cut of 50 basis points was at 63%, according to the FedWatch Tool provided by the Chicago Mercantile Exchange Group.

The VIX volatility index, referred to as the "fear index," rose 6.6% to 18.78. The 10-year US Treasury yield added 1.2% to 3.688%.

The US dollar index decreased 0.15% to 100.74, while the euro rose 0.17% against the dollar, trading at $1.1133.

Precious metals were mixed. Gold added 0.1% to $2,572 per ounce, but silver fell 0.9% to $30.43.

Oil prices decreased around 0.3%, with global benchmark Brent crude at $73.42 per barrel and US benchmark West Texas Intermediate at $69.73.