How Did the Stock Market Do Today?
Dow Jones: 15,914.74; -99.64; -0.62%
S&P 500: 1,851.86; -0.35; -0.02%
Nasdaq: 4,283.59; +14.83; +0.35%
The Dow Jones Industrial Average today (Wednesday) fell 99 points as markets reacted to U.S. Federal Reserve Chairwoman Janet Yellen’s testimony before Congress on the health of the U.S. economy. Shares of Tesla Motors Inc. (Nasdaq: TSLA), Twitter Inc. (NYSE: TWTR), and Whole Foods Market Inc. (Nasdaq: WFM) are in focus as the three firms report earnings after the bell.
The CBOE Volatility Index (VIX) – Wall Street’s fear gauge – slipped 0.75%.
On the economic front, Fed Chairwoman Janet Yellen questioned the legality of negative interest rates during her testimony before the House of Representatives. Yellen said struggles in the financial sector and the ongoing contraction of the Chinese economy were threats to the U.S. economy; however, she also added the central bank is very unlikely to cut interest rates again in the near future.
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