-Wall Street's main indexes closed lower on Wednesday, with the Nasdaq leading declines, as technology stocks slumped on Thanksgiving eve on worries the Federal Reserve may be cautious about rate cuts after stubbornly strong U.S. inflation data.
Investors were still gauging the impact of President-elect Donald Trump's pledge on Monday to impose duties of 25% on imports from Mexico and Canada and 10% on Chinese goods unless they halt flows of the deadly opioid fentanyl and illegal migrants into the U.S. "Inflation has proven to be a little stickier than the Fed would have liked, which may give them pause with respect to cutting rates," said Scott Welch, chief investment officer at Certuity.
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