The Nasdaq Composite was down about 8% Wednesday morning after two consecutive record-high closes, while the S&P 500 and Dow Jones Industrial Average also declined. Rising oil prices and bond yields weighed on stocks, with strong U.S. economic activity readings from S&P Global adding to expectations that the Federal Reserve could raise interest rates twice more before year-end. Traders priced a roughly 50% chance of 50 basis points in combined hikes at the Fed's October and December meetings, up from 42% a day earlier, according to CME Group's FedWatch tool. KeyBanc raised its Meta Platforms price target to $900 from $780 and maintained a buy rating, citing parallels with Alphabet's improved legal and artificial-intelligence position. Attention turned to CEO Mark Zuckerberg's keynote at the Meta Connect developers conference. Citi raised its Micron target to $1,300 from $1,150, while Wells Fargo cut its target to $1,400 from $1,525; both retained buy ratings. Wolfe Research said Micron could generate enough free cash flow over the next two years to repurchase shares worth 25% of its current market capitalization. Jeff Marks said no further Micron purchases were anticipated before the earnings report, which is due a week from Wednesday.