December E-mini S&Ps (ESZ14 -0.09%) this morning are down -0.14% and European stocks are down -0.39% as the FOMC starts a 2-day policy meeting.

The Federal Reserve FOMC is meeting this week to determine monetary policy. We know the Fed is headed toward the end of QE next month; they are on track to end their massive purchases of mortgage backed securities and Treasuries.