Wall St dips as Merk drags; Fed on tap

NEW YORK (Reuters) - Wall Street edged lower at the open on Wednesday, weighed by weak results from Merck as investors waited to hear from the U.S. Federal Reserve on the state of the economy.

The Dow Jones industrial average dropped 41.40 points, or 0.28 percent, to 14,798.40. The Standard & Poor's 500 Index lost 3.14 points, or 0.20 percent, to 1,594.43. The Nasdaq Composite Index shed 2.55 points, or 0.08 percent, to 3,326.24.

(Reporting by Chuck Mikolajczak; Editing by Nick Zieminski)