US Stocks Open Lower as Fed Decision Looms, Middle East Conflict Boosts Oil Prices

The US stock market opened lower on Wednesday as investors adopted a cautious stance ahead of the Federal Reserve's interest rate decision.

The Dow Jones Industrial Average fell by about 0.8% in early trading, with the S&P 500 down 0.1% and the Nasdaq Composite dropping approximately 0.2%.

The Philadelphia Semiconductor Index was the weakest performer, falling by as much as 1%, while Taiwan Semiconductor Manufacturing Company's (TSMC) American Depositary Receipts declined about 1.3% in early trading.

The renewed escalation of Middle East conflict sent international oil prices surging more than 3%, with Brent crude oil prices reaching a high of nearly $90 per barrel and US West Texas Intermediate (WTI) crude climbing to over $83 per barrel.