U.S. stocks drop as Fed rate decision looms

NEW YORK, Jan. 30 (Xinhua) -- U.S. stocks pulled back on Monday as investors awaited a key policy decision from the Federal Reserve.

The Dow Jones Industrial Average fell 260.99 points, or 0.77 percent, to 33,717.09. The S&P 500 sank 52.79 points, or 1.30 percent, to 4,017.77. The Nasdaq Composite Index shed 227.90 points, or 1.96 percent, to 11,393.81.