US STOCKS-S&P posts biggest drop since September as ECB disappoints
(Updates to close)
* Yellen comments suggest December meeting in play for rate hike
* Initial jobless claims up for last week
* November payrolls seen up 200,000
* Indexes down: Dow 1.4 pct, S&P 1.4 pct, Nasdaq 1.7 pct
By Caroline Valetkevitch
Dec 3 (Reuters) - The S&P 500 suffered its biggest drop since late September on Thursday as the European Central Bank disappointed market hopes for greater stimulus.
The ECB move triggered a spike in the euro that caught investors by surprise, forcing them to shift positions that hit most asset classes. Bond prices dropped after the announcement.
At the same time, the CBOE Volatility index, the stock market's fear gauge, jumped 13.8 percent, closing at its highest since Nov. 17. Continuación...