Update: Nasdaq Composite, S&P 500 Fall From Record Following Fed Meeting Minutes

04:50 PM EDT, 10/07/2026 (MT Newswires) -- (Updates with market moves at the end of the day, and other changes, if any.) The Nasdaq Composite and the S&P 500 fell from record highs on Wednesday after the Federal Reserve published September's meeting minutes, while long-dated Treasury yields backed away from a 24-year high. The Nasdaq Composite and the S&P 500 both declined 0.2% to 27,538.69 and 7,801.77, respectively. The drop halted five consecutive days of gains for the Nasdaq and a four-day rally for the S&P 500. The Dow Jones Industrial Average fell 0.7% to 51,179.87, snapping a four-session advance. Healthcare led gainers among sectors, while industrials declined the most. Most Federal Reserve officials expected another interest rate hike by year-end to curb inflation, though they vowed to base their future policy decisions on fresh data, according to minutes from the central bank's September meeting. The minutes didn't offer a materially new policy signal, TD Economics said in a note. "The minutes contained relatively little that had not already been communicated through the September Summary of Economic Projections and (Fed Chair Kevin Warsh's post-meeting) press conference," TD Senior Economist Vikram Rai said. Markets are pricing in an 83% probability that the central bank will keep its benchmark rate steady later this month, according to the CME FedWatch tool. The 10-year Treasury yield was last up 1.5 basis points at 5.29%, having hit 5.365% earlier in the day, the highest since 2002. The Treasury Department auctioned $39 billion of notes on Wednesday. The two-year yield fell 1.9 basis points to 4.77%. In other economic news, US consumers' one-year-ahead inflation outlook reached the highest in more than three years in September, while labor market expectations "mostly improved," a survey by the Federal Reserve Bank of New York showed Wednesday. Brent crude oil was up 0.4% at $100.94 a barrel in Wednesday late-afternoon trade, while West Texas Intermediate fell 0.5% to $88.98. Amgen's (AMGN) shares were up 2.6%, the top gainer on the Dow. Healthcare giant Johnson & Johnson (JNJ) was also among the top gainers on the Dow. Constellation Brands (STZ) reiterated its full-year adjusted profit outlook late Tuesday and reported an unexpected year-over-year increase in fiscal second-quarter earnings. Shares of the company were up 2.4%. Spot gold fell 1.4% to $4,106.79 per troy ounce, while silver decreased 2.7% to $59.94 per ounce.