US Stocks Slide as Tech Sector Weighs Ahead of Fed Decision

A sell-off in technology stocks yesterday pushed the broader stock market lower, creating uncertainty ahead of tomorrow's Federal Reserve interest rate decision.

The Fed's announcement could have a hawkish tone, which would put more pressure on inflation and may lead to further risk reduction by market participants at least in the short term.

This is one reason why the US dollar has remained strong and is still expected to take out its June highs. However, another test of the 100.80 area is a possibility before it reaches that target.