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Technology sector drags S&P 500 index down ahead of Fed meeting
US stocks, especially those of technology companies, continue to show weak performance on Wednesday. Investors are still concerned about the US economy ahead of the Federal Reserve's interest rate decision on Wednesday, Bloomberg reports.
The US regulator is expected to leave the cost of borrowing steady at the upcoming meeting. Some investors believe that the rapid decline in the S&P 500 index will prompt a Fed put. However, Bloomberg economists do not expect such a move from the central bank this week.
Given the uncertainty over geopolitics and the Fed’s interest rate decision, traders continue to doubt whether it is time to buy US stocks. Meanwhile, some company executives are using the current decline in US securities to purchase them, Bloomberg emphasizes.
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