US stock market plunges as investors await Fed meeting

By Aysu Bicer

ANKARA (AA) - Major US stock indices opened lower as markets are awaiting the Fed's policy meeting.

The US Federal Reserve will meet on Tuesday and Wednesday, with investors hoping for more guidance on the bank's monetary policies.

Amid concerns over inflation and geopolitical risks, it is expected that central banks will tighten their monetary policies more rapidly, a move which continues to negatively affect the investor risk perception.

Moreover, the ongoing tensions between Russia and Ukraine have caused volatility in the stock markets.

The Dow Jones Industrial Average slumped 312.90 points, or 0.91%, to open at 34.051 while the S&P 500 diminished 61.08 points, or 1.4%, to 4,349.

The Nasdaq was down 225.80 points, or 1.63%, to open at 13.629.

The VIX volatility index, however, was up 10.07% to 38.94.

The yield on 10-year US Treasury notes rose to 1.755% on Tuesday from 1.735%.

Brent crude trading at $87 per barrel with almost 1% gain.