Tech stocks surge Wednesday, Dow Jones drops 99 points

NEW YORK, New York - Technology stocks bolted on Wednesday pushing the tech-laden Nasdaq Composite to a new all-time closing high. The November consumer price index came in at 0.3 percent, or an annualized 2.7 percent, broadly in line with expectations. The reading enhances the already-strong view that the Fed will cut official interest rates at its next meeting.

"We expect a rate cut in the final meeting here a