Wall St. retreats on Yellen's comments on valuations

Business / Financial Markets Jul 16, 2014

Wall St. retreats on Yellen's comments on valuations

U.S. stocks fell on Tuesday after Federal Reserve Chairwoman Janet Yellen and her fellow Fed policymakers raised concerns about "substantially stretched valuations" in some sectors. In the monetary policy report accompanying her congressional testimony, Yellen said that "equity valuations of smaller firms as well as ...