Power Breakfast: Dow, Nasdaq Slip As Fed Minutes Signal More Rate Hikes, Intel Stocks Drop 2% On Fears Of Dividend Cut

The US market remained under pressure due to the fear of rising interest rates. The Dow slipped 200 points from the day's high on Wednesday, closing down 85 points. Whereas, NASDAQ closed with a gain of only 15 points. The 10-year Bond Yield rose to 3.9%. Inflation “remained well above” the Fed’s 2% target, the minutes stated. Apart from this, maximum sell-off remained in energy stocks. Intel's stock fell 2% on the news of dividend cut. The dollar index reached near 104.5.