Stocks are in the red but well off the lows in this roller coaster reaction to the Fed minutes.

The most important hour of trading starts now.

Welcome everyone to Closing Bell, I'm Sarah Eisen.

Here's where we stand right now.

We dropped a session lows just a few moments ago,

but we have come back pretty nicely here.

The DAS only down about 58 points.

S&B 500 down six-tenths of 1%.

Technology is getting hit the hardest again. You're seeing weakness in all

the tech names, chips, internet, software, hardware, consumer discretionary is the worst

performer in the S&P utilities are holding up so

it's real estate staples health care and energy so a mix there of the energy

and the defensive plays the Nasdaq down one and a half percent here's a

look at the names dragging down most on the NasDAQ 100, which is where the pain is right now.

And you can see it's a lot of the winners over the last year or so.

It's Moderna.

It's the high growth companies, the cloud names and the software security

cyber security names like a Z scalar, PayPal down more than 3%.

Here are my top takeaways on some of today's biggest stories.

Data Dogg, how about that one? Getting hit hard?

Pick your cloud darling. It's been a rough year. 90% of the WCLD ETF, that's the cloud ETF,

in the red. Even with a bounce back in the past few weeks, higher interest rates hurt valuations

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