(CNBC) — Stocks fell from their session highs on Wednesday after interest rates reached fresh multiyear highs.
The Dow Jones industrial average traded 100 points lower after rising more than 300 points. The S&P 500 fell 0.4 percent while the Nasdaq composite traded just below breakeven. The S&P 500 and Nasdaq had risen more than 1 percent each.
"The made it clear that you're going to see more rate hikes," said Quincy Krosby, chief market strategist at Prudential Financial. "The question for the market now is how many."
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