By Saqib Iqbal Ahmed, Suzanne McGee and Lewis Krauskopf NEW YORK (Reuters) - Risks to the U.S. stock market are piling up as cracks emerge in the technology trade and the path for interest rates is clouded by persistent inflation worries that are being exacerbated by the potential for looming tariffs.

S&P 500 E-Mini futures (ESH25) are up +0.10%, andMarch Nasdaq 100 E-Mini futures (NQH25) are up +0.35% this morning as market participants braced for the Federal Reserve’s interest rate decision and U.

The SP 500 closed higher Tuesday as tech stocks rebounded, shifting investor focus to the Federal Reserves policy decision. The Dow Jones rose 136 points (0.3%), while the SP 500 gained 0.9%, and the Nasdaq surged 2%.

Wall Street’s new mantra might be that the Federal Reserve should take its time before cutting rates again. With the U.S. economy continuing to log strong growth and the second Trump administration still settling in, the Fed on Wednesday held off on cutting its policy rate.

Consumers and traders are waiting to learn if the Fed’s pause is a one-meeting hold or the start of a longer stretch.

Meta Platforms rose 2.4% in premarket trading after beating estimates for fourth-quarter revenue, but predicted that sales in the current first quarter might miss estimates. Tesla added 2.2% after saying it was on track to roll out new,