Nasdaq leads Wall St declines as tech stocks slump after inflation data

Nov 27 - Wall Street's main indexes fell on Wednesday, with the Nasdaq leading declines as technology stocks slumped ahead of the Thanksgiving holiday, while investors focused on the Federal Reserve's next move following an in-line inflation reading.

A line chart titled"Annual change in US Personal Consumption Expenditures Price Index" that tracks the metric over the five years. In October the nationwide rate increased to 2.3% Dell , and HP, fell 10.5% and 10.1%, respectively, after downbeat quarterly forecasts and weighed on the Information Technology sector , opens new tab, which led sectoral declines and lost 2%.

Investors also assessed data earlier in the day which showed the economy grew at a solid clip in the third quarter, while weekly jobless claims fell again last week, leaving the door open for another interest-rate cut from the Federal Reserve in December. Minutes from the Fed's November meeting, released on Tuesday, showed policymakers were uncertain about the outlook for interest-rate cuts and how much the current rates were restricting the economy.

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