US stocks slip ahead of crucial Fed rate decision

New York - US stocks opened slightly lower on Thursday as markets awaited the Federal Reserve's decision on whether to increase interest rates for the first time in more than nine years.

Most analysts were betting against a hike, but traders remained fairly cautious ahead of the landmark move.

A few minutes into trade, the Dow Jones Industrial Average fell 3.11 points to 16 736.84.

The broad-based S&P 500 lost 0.11% at 1 993.04, while the tech-rich Nasdaq Composite Index slipped 11% to 4 883.78.