Wall Street Faces Pre-Thanksgiving Slump Amid Fed Speculations

Main U.S. stock indexes experienced declines, with technology stocks weighing heavily on the Nasdaq, as investors focused on the Federal Reserve's potential decisions on interest rates amidst solid consumer spending and persistent inflation. Dell, HP, and other large-cap stocks suffered further losses, intensifying the slump.

Wall Street's major indexes faced a downturn on Wednesday, led by a decline in technology stocks that impacted the Nasdaq significantly. This comes as investors closely monitor the Federal Reserve's next steps regarding interest rates amidst stagnant progress in reducing inflation despite robust consumer spending.

Challenges in the tech sector amplified the market's downward trajectory. Notably, Dell and HP experienced considerable losses due to disappointing quarterly forecasts, contributing to a larger drop in the Information Technology sector. This negative sentiment extended to industry giants Nvidia and Microsoft, further influencing the Nasdaq's slide.

Amid these shifts, the Federal Reserve's minutes from its November meeting highlighted ongoing uncertainties regarding future interest-rate cuts and the impact of U.S. President-elect Trump's economic policies. As traders speculate potential adjustments in borrowing costs, the overall economic landscape remains tense, with inflation rates proving stubbornly persistent.

(With inputs from agencies.)