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.

Stocks wavered in afternoon trading on Wednesday, as losses for several Big Tech companies offset gains elsewhere in the market. The S&P 500 fell 0.4% in afternoon trading, even though more stocks were rising than falling in the index.