Market Opens Lower as Traders Await Fed's Move

As the trading week commenced, major U.S. stock markets experienced a downturn at the opening bell. This movement comes as investors are keenly awaiting the Federal Reserve's upcoming interest rate decision, which is poised to have significant implications for the market.

Trade Relations Between US and China Under Scrutiny

Amidst the market's cautious stance, the ongoing trade relations between the United States and China remain a focal point. Market participants are hopeful that negotiations will lead to a resolution of the existing disputes between the two economic powerhouses.

Key Indices and Performers

The Dow Jones Industrial Average saw a decline of 0.59%, with Disney notably leading the losses by dropping 1.95%. Similarly, the Nasdaq 100 decreased by 0.83%, influenced by a significant 5.58% plunge in On Semiconductor shares. The S&P 500 wasn't spared, falling 0.73%, as Zimmer Biomet Holdings experienced a sharp 9.09% drop.

Euro Strengthens Against the Dollar

In currency markets, the euro appreciated by 0.52% against the dollar, trading at 1.13572 by 9:29 am ET, marking a notable shift in forex dynamics early in the week.