The coronavirus has wreaked havoc on the economy, and in an emergency response, the Federal Reserve slashed interest rates by a full percentage point—the second rate cut in two weeks and the largest in Fed history.

The Federal Reserve last month cut interest rates for the first time in more than four years, by a bold half point, in part thanks to inflation coming under control. Lower borrowing costs make it cheaper for American shoppers to buy durable goods such as appliances, cars and furniture, which are usually bought on credit.

The Federal Reserve's decision to cut interest rates presents a dual-edged sword for the tech sector, offering both significant opportunities and notable challenges.