Major US stock indices faced significant declines as technology stocks dragged the market lower, with the Dow Jones, S&P 500, and Nasdaq all experiencing downtrends. The downturn is largely attributed to persistent inflation data, which has prompted cautious sentiment among investors. Key players like Nvidia and other tech giants have seen losses, adding pressure to the market ahead of the Thanksgiving holiday. Despite the recent strong performance of certain sectors, investor uncertainty regarding future rate changes and trade tariffs has contributed to this recent weakness.