US: Wall St opens flat; Fed in focus

[NEW YORK] US stocks opened flat on Wednesday, ahead of a highly awaited Federal Reserve announcement where the central bank is expected to signal fewer rate hikes given the turmoil in financial markets and rising fears of a recession.

The Dow Jones Industrial Average rose 17.69 points, or 0.07 per cent, at the open to 23,693.33.

The S&P 500 opened higher by 0.89 points, or 0.03 per cent, at 2,547.05. The Nasdaq Composite dropped 6.32 points, or 0.09 per cent, to 6,777.59 at the opening bell.

REUTERS