US STOCKS-Wall St down more than 1 pct after ECB action, Yellen remarks
(Updates to late afternoon trading)
* Yellen gives Congress upbeat view on march towards liftoff
* Initial jobless claims up for last week
* November payrolls seen up 200,000
* Indexes down: Dow 1.5 pct, S&P 1.6 pct, Nasdaq 2 pct
By Caroline Valetkevitch
Dec 3 (Reuters) - U.S. stocks dropped more than 1 percent late Thursday afternoon as the European Central Bank's announcements failed to impress investors, while Janet Yellen's comments suggested the Federal Reserve was on track to raise rates this month.
European shares fell following the ECB's decision to extend its asset purchase program until March 2017 but not to increase its size. A cut in deposit rate was in line with expectations, with hopes of further easing being dashed.
Healthcare shares, down 2.1 percent, led the day's decline in the S&P 500, followed by energy, down 1.8 percent in a second day of sharp losses for the sector and the overall U.S. equity market. Continuación...