Tech Stocks Slide Amid Economic Data Crunch

American stock index futures dropped slightly on Wednesday as investors remained cautious ahead of pivotal economic releases, primarily the anticipated Personal Consumption Expenditure report. Set to be disclosed at 10 a.m. ET, the report is likely to influence the Federal Reserve’s monetary policy direction.

Economists predict a 2.3% annual rise in prices for October, surpassing both last month’s 2.1% rise and the Fed’s 2% target. The Federal Reserve’s November meeting minutes revealed uncertainty about the need and impact of future rate cuts.

Tech sector stocks, including Dell and HP, witnessed declines following disappointing forecasts, which reverberated across other tech giants like Nvidia and Apple. Investors watched key performance indicators, including GDP and jobless claims data, alongside concerns over potential trade conflicts stemming from U.S. policy changes.

(With inputs from agencies.)