NEW YORK, Sept. 16 (Xinhua) -- U.S. stocks finished lower on Tuesday as the Federal Reserve began its September policy meeting.

The Dow Jones Industrial Average dropped 0.27 percent to 45,757.90. The S&P 500 slipped 0.13 percent to 6,606.76. The Nasdaq Composite fell 0.07 percent to close at 22,333.96.

Six of the 11 primary S&P 500 sectors ended in negative territory, with utilities and real estate leading the laggards by falling 1.81 percent and 0.66 percent, respectively. Meanwhile, energy and consumer discretionary led the gainers by adding 1.73 percent and 0.82 percent, respectively.

Fresh data showed U.S. retail sales rose 0.6 percent in August, doubling the market's expectation of 0.3 percent. July sales were also revised higher to a 0.6 percent gain from the previously reported 0.5 percent, suggesting tariffs have yet to significantly dent consumer spending.

Meanwhile, the U.S. Senate narrowly confirmed Stephen Miran, Trump's nominee to the Federal Reserve, in a 48-47 vote on Monday. The timing of his appointment allowed him to join the Fed meeting this week.

Markets are nearly certain the Fed will deliver its first interest rate cut of the year when the meeting concludes Wednesday.

According to the CME FedWatch tool, traders are pricing in a 96 percent probability of a quarter-point reduction, which will bring the federal funds rate to a range of 4 percent to 4.25 percent.

On the corporate front, Oracle rose 1.5 percent, extending Monday's rally. ■