US shares are seen opening lower midweek as all eyes are on the Fed's policy decision later.
It is widely thought that the meeting will have struck a cautioius stance amid slow growth and a global economy still full of jitters. It is unlikely the chair Janet Yellen will raise interest rates.
It was a mixed bag on Tuesday as the Dow Jones closed up 13 at 17,990 and the S&P500 also finished higher - around four at 2,091. The tech heavy Nasdaq shed around seven however to stand at 4,888.
Exxon Mobil and corporate America suffered a blow to their prestige when Standard & Poor's stripped the oil giant of its top-tier triple-A credit. Now only two companies in the US still have AAA status: Microsoft Corp. and Johnson & Johnson.
Meanwhile, in futures trading today, the Dow Jones Index is down 27 points, while the S&P500 shed 3.5 points and Nasdaq futures are down over 42.
Significantly, tech behemoth Apple (NASDAQ:APPL) reported after the bell yesterday and shares slumped over 7% in pre-market to US$96.83 after it saw a 13% drop in revenue, the first dip in 13 years, which it blamed on the ever slipping sales of its flagship iPhone.
It lopped off more than $40bln in the group's market value in just under an hour - to compare, that's roughly the entire market value of Netflix