Economics
U.S. Stocks Pare Declines Amid Yellen Testimony, ECB's Stimulus
- ECB stimulus efforts underwhelm as bank extends bond buying
- Focus remains on November jobs report, looming Fed meeting
Yellen: Labor Gains Boost My Confidence in 2% Inflation
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The Standard & Poor’s 500 Index slumped the most in two months as the scale of the European Central Bank’s additional stimulus measures disappointed some investors, while Federal Reserve Chair Janet Yellen signaled the economy is ready for higher borrowing costs.
Equities fell to their lowest level in almost three weeks as investors grapple with an array of influences, including divergent policies from major central banks, uneven economic data and turbulence in commodities markets. Energy shares slid Thursday for a second session despite a rebound in oil prices, and health-care companies had their biggest tumble in nearly two months.