Wall Street traded lower on Wednesday, extending the previous day's risk-off mood sparked by Federal Reserve Chair Jerome Powell's remarks.

At midday in New York, all major indexes were in the red: the S&P 500 slipped 0.3%, the Nasdaq 100 lost 0.5%, and the Russell 2000 fell 0.6%.

FCX is taking a hit from negative sentiment. Get the inside scoop here.

Investors bristled at Powell's comments that further rate cuts are not a given, underscoring a data-dependent stance, while also calling equity markets "fairly highly valued."

Technology stocks led the pullback, while energy shares rallied as oil prices surged more than 2% to nearly $65 a barrel. U.S. crude inventories unexpectedly fell by 0.607 million barrels in the week ending Sept. 19, defying forecasts for an 0.8-million-barrel build. Geopolitical tensions added further support, with ...