Dow sheds 200 points, FOMC minutes weigh on stocks

The Dow Jones Industrial Average (^DJI) falls by over 200 points in Wednesday's session as all three of the major averages (^IXIC, ^GSPC) close the day lower. Stocks are on high alert as they attentively wait for chip maker Nvidia (NVDA) to report its first-quarter earnings today.

Market Domination Anchor Julie Hyman reviews the day's market performance, joined by Yahoo Finance Senior Markets Reporter Jared Blikre who breaks down the sector winners and losers from the session.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.

This post was written by Luke Carberry Mogan.

Video transcript

Near the lows of the session for the Dow Jones industrial average.

And as we talked about earlier, that's after we got the Federal Reserve minutes from the last meeting, which indicated participants willingness to perhaps tighten policy if inflation data does not improve here.

So we saw that pull back in the Dow about a half a percent or 200 points.

The S and P down about a quarter percent.

The NASDAQ down 1/5 of 1%.

And then Russell 2000 really taking a bigger hit here.

It tends to be more interest rate sensitive and that was down about 9/10 of 1%.

All of that as we saw a relatively modest move in yields upward on the 10 year, only two basis points higher to 4.43%.

And then of course, there's the other story that we continue to watch for and that is Invidia, uh NVIDIA off about a half a percent on the day.

Remember it closed at a record yesterday, but pulling back a little bit into its earnings that are coming in just a little while here.

As we talked about it earlier, the shares up some 92% year to date.

Let's look at a three year chart just for fun.

Up 530% Jared.

Not only that, we've had some records recently, but not today.

So let's get to our sector action where tech was just barely holding on to some gains here and there we go.

XL K up 23 basis points for the day, health care, industrial communication services also rounding out some of the the leaders here but not by a lot.

Energy took a hit to the downside 1.85%.

XL U that's utilities taking a downbeat and discretionary also down about one percent.

And uh let's check out our leader, our leaders here.

We have solar energy.

First.

Solar is a kind of the story there but tan the ETF is up at 9%.

Then we have the Sox ETF that's chip makers up 1% despite the NVIDIA loss today.

Biotech also in the green.

But what didn't work?

Oil was the worst sector.

PS ce covers small oil drillers.

That's down the most here down 2%.

Home builders, cannabis and bet that is gambling rounding out the bottom road there.

And let's take a look at some heat maps here.

We got arc uh Tesla down 3.5% today.

So innovation, the disruption field kind of mixed.

We do have uh CRISPR therapeutics up about 3%.

So is Shopify and Coinbase just behind them.

And let's take a look at China, which had a bit of a setback today, but Pinduoduo after earnings up 1% and those were earlier in this week.