Wall Street is quiet as it waits for the Federal Reserve's announcement in the afternoon

NEW YORK (AP) — The U.S. stock market remains largely quiet on Wednesday as Wall Street waits to hear what the Federal Reserve will say in the afternoon about where interest rates may be heading.

The S&P 500 slipped 0.2% in early trading and remains near its all-time high, which was set in October. The Dow Jones Industrial Average was down 88 points, or 0.2%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 0.5% lower.