U.S. stocks opened lower on Monday, with investors holding off on making big bets ahead of a coming policy decision by the Federal Reserve. A sharp decline in shares of Facebook, one of the largest weights in both the S&P 500 and the Nasdaq, added to the negative tone on the day. The Dow Jones Industrial Average fell 98 points, or 0.4%, to 24,844. The S&P 500 was down 13 points, or 0.5%, to 2,739. The Nasdaq Composite Index lost 70 points to 7,412, a decline of 0.9%. Facebook fell 4.9% as the social-media giant drew considerable flak for how it had managed users’ data. Also in focus was the U.S. central bank, which is widely expected to raise interest rates on Wednesday. Higher interest rates are seen as reducing the attractiveness of riskier assets like stocks.
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From:: Stock Market News