The Dow Jones Industrial Average decreased 50.63 points, or 0.15 percent, to 33,919.84. The S&P 500 fell 3.54 points, or 0.08 percent, to 4,354.19. The Nasdaq Composite Index increased 32.49 points, or 0.22 percent, to 14,746.40.
Seven of the 11 primary S&P 500 sectors ended in red, with industrials down 0.7 percent, leading the laggards. Energy rose 0.37 percent, the best-performing group.
U.S.-listed Chinese companies traded mostly higher with six of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note.
The above market moves came as the Fed kicked off its two-day meeting on Tuesday, followed by a policy announcement and a news conference by Fed Chair Jerome Powell on Wednesday. Traders will look to clues on the U.S. central bank's plans to taper its bond buying.
On Monday, U.S. equities closed sharply lower with the Dow down more than 600 points, amid market jitters.
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