Dow Dips 62 on China News

Only two days until the Fed decides on interest rates

By Newser Editors and Wire Services

Posted Sep 14, 2015 3:25 PM CDT

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Dow Dips 62 on China News — Mark Muller, right, works with fellow traders on the floor of the New York Stock Exchange, Wednesday, Sept. 9, 2015. (AP Photo/Richard Drew)

The US stock market is closing slightly lower as traders hold back ahead of a much-anticipated Federal Reserve meeting later this week. More signs of slowing economic growth in China weighed on prices for copper and other commodities today. That sent prices for materials stocks lower. Energy stocks fell along with the price of crude oil. The Dow Jones industrial average gave up 62 points, or 0.4%, to close at 16,370.

The Standard & Poor's 500 index declined 8 points, or 0.4%, to 1,953. The Nasdaq composite fell 16 points, or 0.3%, to 4,805. Traders are looking ahead to a Federal Reserve meeting that begins Wednesday. The bank could raise interest rates for the first time since the financial crisis.

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