US STOCKS-S&P 500 ends flat as biotech selloff offsets Yellen comments
* Yellen expects Fed to hike rates later this year
* Health stocks fall again
* Nike at record high on results
* Indexes: Dow up 0.7 pct, S&P down 0.1 pct, Nasdaq down 1 pct (Updates to close)
By Caroline Valetkevitch
Sept 25 (Reuters) - The S&P 500 erased an early Fed-driven rally to close down slightly on Friday, as a selloff in biotechs offset gains in banking shares.
The Nasdaq fell 1 percent, while the Nasdaq Biotech Index tumbled 5.1 percent and retested its low from August, when it entered bear market territory.
The Dow ended solidly in positive territory, helped by shares of Nike, which hit a record high after its profit topped expectations on strong China growth. The stock, up 8.9 percent at $125, gave the biggest boost to the Dow and the S&P 500.
The market started the day higher after Federal Reserve Chair Janet Yellen late Thursday said she and other Fed policymakers do not expect recent economic and financial market turmoil to significantly alter the U.S. central bank's policy, easing concerns about the world's economic health. She said she expects interest rates to be raised this year. Continuación...