U.S. stocks open lower as Fed heads into policy meeting, Treasury yields climb

U.S. stocks opened lower Tuesday as the Federal Reserve heads into a two-day policy meeting and Treasury yields continue their climb amid expectations the Fed will announce another large interest rate hike. The Dow Jones Industrial Average DJIA, -1.05% was down 0.8% soon after the opening bell, while the S&P 500 SPX, -0.99% dropped 0.8% and the Nasdaq Composite COMP, -0.54% slid 0.9%, according to FactSet data, at last check. The Fed’s decision on the size of its rate hike will be announced Wednesday afternoon. The yield on the 10-year Treasury note TMUBMUSD10Y, 3.577% was up about 10 basis points at 3.57% Tuesday morning, after climbing Monday to the highest since April 2011 based on 3 p.m. Eastern time levels, according to Dow Jones Market Data.