NEW YORK, March 20 (Xinhua) -- U.S. stocks opened lower on Wednesday as market sentiment was dented by the sharp losses in FedEx shares.

Shortly after the opening bell, the Dow Jones Industrial Average dropped 83.96 points, or 0.32 percent, to 25,803.42. The S&P 500 was down 7.04 points, or 0.25 percent, to 2,825.53. The Nasdaq Composite Index decreased 8.84 points, or 0.11 percent, to 7,715.10.

FedEx shares declined about 6 percent shortly after Wednesday's opening. The U.S. package delivery service company reported its fiscal third-quarter results Tuesday afternoon, with both earnings per share and revenue below expectations. The logistics company, widely viewed as a bellwether of economic activity, also slashed its full-year earnings guidance for the second time since December, citing weaker global trade growth.

Wall Street is awaiting the release of the Federal Reserve's latest policy announcement later in the session.

The Fed's two-day policy meeting was underway from Tuesday to Wednesday. Markets are pricing in a 98.7 percent probability that no rate hike will occur after this meeting, according to CME Group's closely monitored FedWatch tool.

Market participants will look for clues on the Fed's economic outlook, hoping that the U.S. central bank would adopt a dovish tone amid slowing global growth, experts noted.

At the January meeting, the Fed indicated it will be "patient" regarding hiking rates. Enditem

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