The Fed is not confident that it has achieved a sufficiently restrictive stance to bring inflation down to 2%, Powell said, triggering a rise in US Treasury yields. The odds of a 25 basis-point rate hike in December rose to 12.1% from 9.6% a day before.
Brent crude slipped 91 cents, or 1.2 per cent, to $73.23 a barrel by 1110 GMT, while US West Texas Intermediate (WTI) crude was down $1.22, or 1.8 per cent, at $68.29.
From the Sensex pack, Infosys, Power Grid, Tech Mahindra, Kotak Bank, HUL, and HCL Tech opened with cuts, while Tata Steel, M&M, HDFC Bank, ICICI Bank, HDFC, Bajaj Finserv opened with gains.