Global Stocks: U.S. stock indices declined ahead of Fed monetary policy decision

U.S. stock indices mostly retreated on Monday ahead of Federal Reserve monetary policy decision.

The Dow Jones Industrial Average fell 41.62, or 0.2%, to 17,581.43. The S&P 500 declined 5.29 points, or 0.3%, to 2,065.89 (its energy sector fell 1.2%). The Nasdaq Composite Index slid 4.56, or 0.09%, to 5,030.15.

A report by Markit Economics showed that the U.S. services sector continued expanding in October, but at a slower pace than in September. The preliminary Services PMI declined to 54.4 compared to September final reading of 55.1. Economists expected the index to be unchanged.

Meanwhile a preliminary report by the Conference Board showed that the consumer confidence index fell to 97.6 in October from 102.6 in September (revised from 103.0), while economists had expected a 103.0 points reading. The index of expectations declined to 88.0 in October compared to 90.8 in September, while the current assessment index fell to 112.1 points from 120.3 points.

This morning in Asia Hong Kong Hang Seng fell 0.58%, or 133.25, to 23,009.48. China Shanghai Composite Index lost 0.69%, or 23.78, to 3.410.56. The Nikkei added 0.52%, or 97.08, to 18,874.12.

Asian indices are trading mixed ahead of Fed and BOJ meetings (today and on Friday respectively).

Chinese stocks declined after UBS Group AG cut China's growth forecast for 2016 to 6.2%.