Stocks
pared morning losses, but still ended moderately lower ahead of
Yellen's
speech:
U.S.
stocks dropped but pared their steepest intraday declines, as worries
over slowing global growth lingered.
Dow
futures were briefly down more than 150 points, while S&P 500 and
Nasdaq futures also traded lower.
Treasury
yields held lower, with the 2-year yield at 0.68 percent and the
10-year yield at 2.10 percent.The U.S. dollar traded lower against major world currencies, with the euro at $1.125 and the yen at 119.4 yen against the greenback.
Stocks
remain stuck in low gear following a late-August selloff, and last
week’s decision by the Federal Reserve to keep rates near zero
affirmed investors’ fears that growth had hit a rough patch.
The
S&P 500 lost 6.52, or 0.3%, to 1932.24, while the Nasdaq
Composite shed 18.27, or 0.4%, to 4734.48.
Bond
prices rose, sending the yield on the 10-year Treasury note falling
to 2.125% from 2.144% Wednesday.
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