Wall Street dips as tech stocks lag; trade hopes cushion fall

REUTERS: A fall in technology stocks pulled Wall Street's main indexes lower on Tuesday as weak economic data from China revived global recession fears, but losses were tempered by hopes of a trade deal.

Analysts attributed some of the selloff in tech to investors re-distributing funds into stocks that have underperformed during the year. Trading so far this week has largely been subdued as investors are holding out for policy decisions from central banks on potential monetary easing. The European Central Bank will hold its policy meeting on Thursday.

Apple Inc kicked off its presentation where it is expected to announce pricing for its forthcoming streaming TV service as well as updates to its iPhone lineup. Shares of the company edged 0.06per cent higher.

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