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Tech Down on Doubts About Trade, Monetary Policy Outlook - Tech Roundup

The technology sector ticked down amid doubts about the outlook for interest rates and trade talks. The Federal Reserve's "dot plot," showing the individual central bankers' projections for future rate policy, suggested that Wednesday's rate cut could be one of the last, said Michael Arone, chief investment strategist at State Street Global Advisors. Still, confusion about the Fed's plans and trade relations between the U.S. and China is likely to persist, Mr. Arone said. "Corporate profits and economic growth have been falling, and I think we need improvement in those for the market to move continually higher from here," said Mr. Arone. "Otherwise, we'll continue to get this back and forth based on the narratives on monetary policy and trade policy." Huawei Technologies was suspended from membership in a global trade group of companies, governments and experts set up to tackle computer security breaches and share information about vulnerabilities, the latest sign that the U.S. is maintaining pressure on a company it accuses of engaging in cybersecurity.

 

-Rob Curran, rob.curran@dowjones.com

 
 

(END) Dow Jones Newswires

September 18, 2019 17:03 ET (21:03 GMT)

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