The Dow Jones Industrial Average fell 0.1% to 44,808.7, the Nasdaq retreated 1.1% to 18,961.9 and the S&P 500 was down 0.5% to 5,989.9 after midday on Wednesday.

The health and real estate sectors led the gainers, while technology was the biggest decliner intraday.

In economic news, the personal consumption expenditures price index rose by 0.2% in October, the same as in the previous month and as expected, lifting the year-over-year rate to 2.3% from 2.1% in September. The core PCE price index increased by 0.3%, also in line with the prior month and as expected. The year-over-year rate accelerated to 2.8% from 2.7% in the previous month.

US initial jobless claims declined to 213,000 in the week ended Nov. 23 from an upwardly revised 215,000 level in the previous week, compared with expectations for an increase to 215,000 in a survey compiled by Bloomberg.

US economic growth, measured by gross domestic product, was unrevised at a 2.8% gain in Q3, as expected in a survey compiled by Bloomberg.

In company news, peers Dell Technologies (DELL) and HP (HPQ) fell around 13% post-earnings. Dell's fiscal Q4 guidance disappointed investors, while HP's fiscal Q1 non-GAAP diluted earnings outlook fell short of market expectations.

Urban Outfitters (URBN) shares jumped past 15% in recent Wednesday trading after the company reported higher earnings and sales for Q3.

The 10-year Treasury yield fell 6 basis points to 4.24%. The two-year rate fell 4.7 basis points to 4.21%.

The US Dollar Index was down 1% to 105.97.

West Texas Intermediate crude fell 0.5% to $68.44 per barrel.

Gold was up 0.7% to $2,664.20 an ounce, and silver was down 0.8% to $30.59 per ounce.

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