Wall Street experienced another decline on Thursday, with major large-cap indices affected by a downturn in the tech and communication services sectors.

Investors shifted their focus to market areas that have underperformed compared to tech over the past year, such as small caps, real estate and solar stocks.

In economic news, the second estimate of first-quarter GDP growth was revised down to 1.3% from the initial 1.6% estimate, driven by slower consumer spending growth. Inflation also saw a slight decrease.

New York Fed PresidentJohn Williamsstated there is no immediate need to adjust monetary policy and expects inflation to...