Market Overview

The Fed minutes took a hawkish turn, leading to the Dow's biggest drop this month. $S&P 500 Index(.SPX.US)$ , $Nasdaq Composite Index(.IXIC.US)$ , and $Alphabet-C(GOOG.US)$ all fell from record highs. $Tesla(TSLA.US)$ dropped nearly 3.5%, while $Microsoft(MSFT.US)$ hit a new all-time high. $Target(TGT.US)$ fell 8% after its earnings report. $NVIDIA(NVDA.US)$ 's after-hours earnings report saw the stock soar over 7%, breaking the $1,000 mark.

Following the Fed minutes, the two-year Treasury yield hit a daily high, and the dollar index jumped to a one-week high. Post-UK CPI, the pound reached a two-month high.

After the Fed minutes, gold and oil hit daily lows, each dropping nearly 2%. Oil saw a three-day losing streak. LME copper fell over 4%, and NYMEX gold continued to drop from record highs. NYMEX copper, which hit a record high, fell over 6%, and LME nickel dropped over 4%. Bitcoin surged over $1,000 intraday but fell below the $70,000 mark.