Stocks slip on Wall Street as Fed meeting begins

In this Monday, Dec. 16, 2013 photo, specialist William Geier, left, works on the floor of the New York Stock Exchange. Investors took to the sidelines Tuesday, Dec. 17, 2013, a day ahead of a key policy decision from the U.S. Federal Reserve that may see the central bank reduce its massive monetary stimulus. (AP Photo/Richard Drew)

NEW YORK (AP) — Stocks are slipping on Wall Street in midday trading as traders hold back at the beginning of a two-day policy meeting of the Federal Reserve.

The Dow Jones industrial average was down 36 points, or 0.2 percent, at 15,848 as of noon Eastern time Tuesday.

The Standard & Poor's 500 index was down nine points, or 0.5 percent, at 1,777. The Nasdaq composite fell 15 points, or 0.4 percent, at 4,015.

NL Industries slumped 6 percent after a California judge found the company to be among several that marketed paint they knew was harmful to children. The companies were ordered to pay $1.1 billion to 10 California cities and counties so lead can be safely removed from millions of older homes.

Boeing and 3M rose the most in the Dow.