US STOCKS-Wall St falls after Fischer, Yellen comments

viernes 26 de agosto de 2016 14:32 GYT
 

* Fischer hints at more than one Fed rate hike this year

* Yellen gives no indication of rate hike's timing

* Herbalife drops on report of Icahn's planned stake sale

* Indexes down: Dow 0.43 pct, S&P 0.34 pct, Nasdaq 0.2 pct (Updates to mid-afternoon trading, changes byline)

By Chuck Mikolajczak

NEW YORK, Aug 26 (Reuters) - U.S. stocks were lower in a choppy session on Friday, with stocks bouncing between gains and losses as investors grappled with the possible timing of a U.S. interest rate hike after comments from Federal Reserve officials, including Chair Janet Yellen.

The S&P 500 rose as much as 0.7 percent in the wake of a speech by Yellen in Jackson Hole, Wyoming that said the case for increasing interest rates had strengthened, but did not indicate when the Fed would raise rates.

Yellen told the gathering of central bankers from around the world the U.S. economy was nearing the central bank's goals of maximum employment and price stability but she maintained that future hikes should be "gradual".

Stocks later reversed course to trade lower after hawkish comments from Fed Vice Chair Stanley Fischer raised the possibility of a rate hike as soon as next month.   Continuación...