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US equity indexes pulled back from record highs on Wednesday after Federal Reserve meeting minutes signaled a preference for further policy tightening, coinciding with a US Treasury auction of 10-year notes that saw yields rise sharply.
The Nasdaq Composite dropped 0.2% to close at 27,538.69, while the S&P 500 slipped 0.2% to 7,801.77. The Dow Jones Industrial Average lagged the broader market, declining 0.7% to 51,179.87.
Materials and industrials sectors drove the losses after the Nasdaq and S&P 500 hit fresh records on Tuesday. Minutes from the Federal Open Market Committee's Sept.
15-16 meeting indicated that most participants believed another hike in the target range for the federal funds rate would likely be appropriate by year-end.
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