Nasdaq and S&P 500 Index turned lower; USD/JPY climbed above 160 for the first time in a month; the 2-year US Treasury yield reached 4.33%; spot gold fell back to $4,520. Among tech stocks, Nvidia dropped over 3%, Marvell Technology fell over 10%, Micron and SpaceX dropped over 1%.

On Tuesday, following Federal Reserve Governor Waller’s call to consider a 50 basis point rate hike at the December meeting, this year’s FOMC rotating voting member Lorie Logan reiterated a hawkish stance, stating, "Given the current economic outlook, I believe at least two more rate hikes of 25 basis points each are needed. The pace of rate hikes this winter may be faster than what we have seen so far this autumn." On Tuesday, the two-year US Treasury yield jumped 19 basis points in a single day, reaching 4.74%.