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Jan 21 (Reuters) - U.S. stocks opened lower on Wednesday after a disappointing outlook from IBM and as investors reduced their exposure ahead of an upcoming European Central Bank (ECB) meeting that could result in new stimulus.
The Dow Jones industrial average fell 60.91 points, or 0.35 percent, to 17,454.32, the S&P 500 lost 4.63 points, or 0.23 percent, to 2,017.92 and the Nasdaq Composite dropped 12.58 points, or 0.27 percent, to 4,642.26.
Reporting By Sinead Carew; Editing by Nick Zieminski