US STOCKS SNAPSHOT-Nasdaq opens lower as tech giants disappoint; Fed decision in focus

The tech-heavy Nasdaq opened lower on Wednesday as Alphabet and Microsoft's projections for rising AI costs dented megacap and chip stocks ahead of a U.S. Federal Reserve policy decision expected later in the day.

The Nasdaq Composite dropped 185.71 points, or 1.20%, to 15,324.19 at the opening bell, while the Dow Jones Industrial Average fell 40.53 points, or 0.11%, at the open to 38,426.78.

The S&P 500 opened lower by 25.78 points, or 0.52%, at 4,899.19.