While you were sleeping: More clouds on rates

Wed, 06 May 2015

By Margreet Dietz May 7 (BusinessDesk) - US stocks, bonds, and the dollar slid after Federal Reserve Chair Janet Yellen warned valuations were quite high, while weaker-than-expected private jobs data added to recent data suggesting the central bank might not lift interest rates as soon as thought. Wall Street’s decline deepened after Yellen’s comments on a panel in Washington. In late trading in New York, the Dow Jones Industrial Average fell 0.78 percent, the Standard & Poor’s 500 Index declined 0.71 percent, while the Nasdaq Composite I...

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