U.S. Stocks Open Lower Ahead of Fed Decision; LinkedIn Shares Sink on Downgrade

U.S. stocks opened slightly lower on Wednesday, as investors anxiously awaited the Federal Reserve’s closely watched March statement. The Federal Reserve releases its all-important March statement at 2pm ET and holds a press conference at 2:30pm. ‘The likelihood is that the Fed will slightly guide lower on their dot plot suggested a slightly slower pace of rate hikes this year,' said Jasper Lawler, a market analyst with CMC Markets, based in London. Meanwhile, shares of LinkedIn (LNKD) were in focus after the analysts at Morgan Stanley downgraded the stock to EQUAL WEIGHT from OVER WEIGHT and cut the stock's price target to $125 a share from $190 a share. Chipotle (CMG) shares were down after the company said it expects a loss of at least $1 a share for the first quarter, amid the restaurant's E.coli outbreak last year. Finally, Chevrolet, a subsidiary of General Motors (GM), unveiled the new Camaro ZL1 - with 640 horsepower and a 6.2L V-8 engine. It goes on sale later in 2016. TheStreet’s Scott Gamm reports from Wall Street.