The S&P 500 and the Nasdaq extended declines on Wednesday as investors assessed an in-line inflation report, although the figure was still above the Federal Reserve's 2% target. A Commerce Department report showed the Personal Consumption Expenditure index,

Wall Street’s main indexes closed lower today, 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.

Major U.S. stock indexes finished in the red Wednesday, after investors waded through a slew of economic data and some disappointing corporate financial updates ahead of the Thanksgiving Day holiday.

The S&P 500 and the Nasdaq edged lower on Wednesday, weighed by a decline in technology stocks, while investors focused on the Federal Reserve's next move following an in-line inflation reading. A Commerce Department report showed the Personal Consumption Expenditure index,