U.S. stocks open lower, on track for back-to-back weekly losses amid Fed worries

U.S. stocks opened lower Friday, with all three major benchmarks on track for a second straight week of declines in the wake of the Federal Reserve's policy meeting on Wednesday. The Dow Jones Industrial Average was down 0.7% soon after the bell, while the S&P 500 dropped 0.6% and the Nasdaq Composite shed 0.3%, according to FactSet data, at last check. The Fed signaled Wednesday that its benchmark interest rate could rise above 5% next year, striking a hawkish tone that sparked a stock market slump amid recession fears. Investors will see fresh economic data on U.S. manufacturing and services at 9:45 a.m. Eastern time.

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