Dow closes 166 points lower after 10-year yield hits 4-year high on Fed minutes

"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." The minutes showed the Fed sees increased economic growth and an uptick in inflation as justification to continue to raise interest rates gradually. The central bank said it believes inflation can reach its 2 percent target, but does not think inflation is getting out of hand.