A cooler-than-expected PCE print for the month of November has Fed president Austan Goolsbee encouraged about future interest rate cuts.

Lennar Corporation shares fell 9% in Thursday’s premarket session after the homebuilder blamed rising mortgage costs for a slowdown in its sales that saw it fall short of analysts expectations.

Investors seemed to shrug off the meltdown on Thursday. Some Dow Jones laggards of this period tried to rebound as well.

The Dow lost more than 250 points ahead of the Fed's decision on interest rates. Nvidia stock continued its correction, while Tesla shares jumped.

The Cboe Volatility Index, which trades under the ticker symbol VIX, was down 4% at slightly more than 15, according to FactSet data, at last check. The VIX was trading slightly below its 200-day moving average, based on FactSet data around midday Wednesday.

Ed Yardeni said the Fed could move forward with a hawkish interest rate cut next week after sticky inflation data.

The Dow Jones Industrial Average was losing 370 points, or 0.8%, to trade near its session low of 43,336 as of 3:20 p.m. Eastern time. The blue-chip index is on pace for its longest losing streak since 1978, according to Dow Jones Market Data.