US STOCKS-Wall St declines after Fischer's hawkish stance on rates

viernes 26 de agosto de 2016 13:00 GYT
 

* Fischer hints at more than one rate hike this year

* Yellen gives no indication of rate hike timing

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

* Indexes down: Dow 0.42 pct, S&P 0.3 pct, Nasdaq 0.23 pct (Adds details, comment, updates prices)

By Yashaswini Swamynathan

Aug 26 (Reuters) - Wall Street reversed course to trade lower on Friday afternoon after hawkish comments from Federal Reserve Vice Chair Stanley Fischer raised the specter of a rate hike as soon as next month.

Fischer's comments came shortly after Fed Chair Janet Yellen said the case for increasing interest rates had strengthened, but did not indicate when the Fed would raise rates.

Yellen said the economy was nearing the central bank's goals of maximum employment and price stability, but she maintained that future hikes should be "gradual".

Asked on CNBC whether people should get ready for a rate hike in September and another before the end of the year, Fischer said: "I think what the Chair said today was consistent with answering yes to both of your questions, but these are not things we know until we see the data."   Continuación...