By Ovunc Kutlu
ANKARA (AA) - US stocks opened mixed Tuesday to begin November on a weak note as the Federal Reserve's key meeting kicks off.
The Dow Jones was down 69 points, or 0.21%, to 32,667 at 10.22 a.m. EDT. The blue-chip index was up around 14% in October -- its best monthly record since 1976.
The S&P 500, on the other hand, was flat at 3,872, while the Nasdaq was up 3 points to 10,990. The indices gained 8% and 4%, respectively, last month.
The Fed's two-day meeting begins Tuesday as investors expect the central bank to adopt a more dovish tone after its meeting Wednesday.
The probability of the Fed raising rates by 75 basis points stood at 83.5% shortly after markets opened, according to the FedWatch Tool provided by US-based global markets company Chicago Mercantile Exchange Group. The probability of a hike of 100 basis points was at 16.5%
The bank, with a hawkish stance, has increased its benchmark interest rate by a total of 300 points since March in an attempt to tame record inflation that is still hovering around its highest level in more than 40 years.
The VIX volatility index, also known as the fear index, was up 0.7% to 26.07. The 10-year US Treasury yield fell 0.5% to 4.054%.
The dollar index lost 0.1% to 111.37, still around its highest in 20 years, while the euro gained 0.1% to $0.99 against the greenback.
Precious metals were on the rise, with gold adding 0.7% to $1,645 and silver increasing 2.5% to $19.64.
Oil prices were up more than 1%. Global oil benchmark Brent crude was trading at $94.39 per barrel, up 1.7%. US benchmark West Texas Intermediate was around $88.23 -- up 2%.