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Dow drops ahead of Fed statement; Apple lifts Nasdaq

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US stocks on Tuesday finished mostly lower ahead of a closely watched Federal Reserve policy announcement, while the Nasdaq rose on news of a potential new Apple television venture.

[NEW YORK] US stocks on Tuesday finished mostly lower ahead of a closely watched Federal Reserve policy announcement, while the Nasdaq rose on news of a potential new Apple television venture.

The Dow Jones Industrial Average dropped 128.34 points (0.71 per cent) to 17,849.08.

The broad-based S&P 500 shed 6.99 (0.34 per cent) at 2,074.20, while the tech-rich Nasdaq Composite Index advanced 7.93 (0.16 per cent) to 4,937.43.

Investors awaited the Fed's policy announcement on Wednesday, which is expected to give clues on the timing of an increase in near-zero interest rates, perhaps as early as June.

Apple jumped 1.7 per cent following a Wall Street Journal report that it is in talks with CBS, ABC and other networks to offer a slate of television broadcasts across its devices.

AFP

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