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U.S. stocks down on oil price drop, Fed rate hike fears


U.S. stocks finished lower Tuesday on a continued
drop in oil prices and as the Federal Reserve kicked off its two-day rate-setting meeting. The Dow Jones Industrial Average finished
zero-point-two percent lower at 20-thousand-837, …while the S&P 500 dropped a third-of-a-percent
to two-thousand-365. A one-percent fall in the energy sector led
the declines, taking a hit from yet another drop in oil prices. Wall Street was also pulled back as investors
prepare for another rate hike. Taking a cue from overnight losses on U.S.
markets, Korean stocks opened lower on Wednesday morning. The benchmark KOSPI fell zero-point-one percent
to 2,131 in the first 15 minutes of trading. It was trading down zero-point-two-eight percent
as of 11:50 a.m.

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