Wall Street set to open lower ahead of Fed statement

U.S. stock indexes were set to open slightly lower on Wednesday, as investors awaited the outcome of a Federal Reserve meeting on monetary policy. Financial markets have recovered from a heavy selloff in the first two months this year, but remain cautious as improving conditions could push the Fed to tighten its policy sooner than expected. Economists polled by Reuters are looking at two possible rate hikes in 2016, but financial markets are pricing in only one hike of 25 basis points.