NEW YORK (AA) – The stock market opened to begin the first trading day of the week on a lower note as the decline in oil prices continues.
The Dow Jones fell 47 points to start the day at 17,818. The S&P 500 was down 6 points to open at 2,089, while the Nasdaq lost 23 points to begin the day at 4,871.
At the opening bell, American benchmark West Texas Intermediate traded at $48.44 per barrel with a 1.3 percent decrease, and the international benchmark Brent crude was down to $49.85 a barrel with a 1.4 percent decline.
The markets have now focused on the Federal Reserve's interest rate decision this Wednesday.
Although it is unlikely for the Fed to raise the rate at its meeting, analysts suggest there could be fluctuations in the stock market as the bank's decision looms.
Last week, the Dow rose 0.3 percent, while S&P 500 lost 0.1 percent and the Nasdaq fell 1 percent on a weekly basis.