According to CNBC, the Nasdaq Composite was down about 8% on Wednesday morning after back-to-back record closes, while the S&P 500 and Dow Jones Industrial Average also fell as rising oil prices and bond yields pressured stocks. Portfolio director Jeff Marks said strong U.S. economic data could give the Federal Reserve room to raise rates two more times before year-end, and traders were pricing in about a 50% chance of 50 basis points of hikes across the Fed's October and December meetings, up from 42% a day earlier. KeyBanc raised its price target on Meta Platforms to $900 from $780 and kept a buy rating, while Citi lifted its target on Micron to $1,300 from $1,150 and Wells Fargo cut its target to $1,400 from $1,525, with both firms maintaining buy ratings. Wolfe Research said Micron could generate enough free cash flow over the next two years to repurchase shares equal to 25% of its current market capitalization.