US STOCKS-Wall St adds to losses; energy leads decline
* Yellen "looking forward" to day of rate hike
* Private payrolls increased 217,000 in November
* Yahoo shares jump on reports could sell Internet business
* Dow down 0.7 pct, S&P down 0.9 pct, Nasdaq down 0.5 pct (Updates to late afternoon trading)
By Caroline Valetkevitch
Dec 2 (Reuters) - The Dow and S&P 500 added to losses in late afternoon trading on Wednesday, led by drops in energy shares, after comments by Federal Reserve Chair Janet Yellen suggested the U.S. central bank may be ready to raise rates.
The Nasdaq fell into negative territory, despite record highs in Alphabet, Amazon and Netflix. Yahoo jumped 5.2 percent to $35.46 after reports the company could sell its core Internet business.
The energy index was down 3.1 percent as U.S. crude oil futures hit a two-week low below $40 a barrel. The utility index was down 2 percent. Utilities tend to underperform in a higher-rate environment.
In prepared remarks to the Economic Club of Washington, Yellen said she was "looking forward" to a rate hike that will be seen as a testament to the economy's recovery from recession. She did not indicate if she still expected an increase would be warranted at the Fed's policy meeting on Dec 15-16. Continuación...