US stocks open lower ahead of Fed's meeting

US stock indices fell on Tuesday, amid anticipation of the US Federal Reserve meeting, and following the release of mixed economic data.

The US producer price index rose 0.8% in May, beating forecasts of a rise by 0.5%, and the core reading rose by 0.7%, higher than forecasts of 0.5%.

The US retail sales index fell 1.3% in May, worse than forecasts of drop by 0.6%, and the core reading fell 0.7%, missing forecasts of a rise by 0.4%.

The Fed is convening later today to decide on monetary policy and provide clarity over the future of monetary policy in the US, amid expectations to keep the interest rate between 0.0% and 0.25% unchanged. 

As for stocks, Dow Jones fell 0.4% or 135 points to 34,258 as of 14:28 GMT, Nasdaq fell 0.5% or 75 points to 14,096, and S&P 500 fell 0.2% or 9 points to 4,246.