'Fast Money' Recap: Market Uncertainty

NEW YORK (TheStreet) -- The markets retreated Wednesday as Fed Chairman Ben Bernanke laid out plans for a rate hike and Europe wrestled with a rescue plan for Greece.

The Dow Jones Industrial Average fell 20.26, or 0.20%, to 10,038.38 while the S&P 500 dropped 2.39, or 0.22%, to 1,068.13. The Nasdaq dropped 3.0, or 0.14%, to 2,147.87.

Pete Najarian said on CNBC's "Fast Money" TV show that investors shouldn't read too much into today's action because there was simply a lack of trading volume.

Joe Terranova also advised investors to stay away from the dollar trade because the Greece bailout situation is riddled with uncertainty.

For a breakout of some stocks from a recent "Fast Money" TV show, check out Dan Fitzpatrick's "3 Stocks I Saw on TV."

3 Stocks I Saw on TV

Tim Seymour said tonight's PPI and CPI reports are important because they will provide a better idea of what impact China's stimulus withdrawal is having on its economy. He said the dollar will move higher if there are signs of inflation.

Steve Grasso said all eyes are the 1,060 support level in the S&P. He said there needs some closure on sovereign debt before the S&P can get back to 1,080.

Gary Kaminsky said the markets won't move up until M&A activity and the IPO market heat up.

Seymour said Bernanke didn't say anything new about a shift in interest-rate policy that had not said earlier. He said the markets reacted appropriately to Bernanke's comments to maintain the status quo.