US STOCKS-Wall St lower after Yellen comments, energy stock retreat
* Yellen: Risks "moderated, not elevated"; no bubbles forming
* Private employers add fewest jobs since Jan 2014
* Tech stocks weigh; energy stocks shed most gains
* Indexes down: Dow 0.7 pct, S&P 0.6 pct, Nasdaq 0.6 pct (Updates to early afternoon)
By Tanya Agrawal
May 6 (Reuters) - U.S. stocks were lower in early afternoon trading on Wednesday after a triple whammy of a pullback in energy stocks, weak jobs data and Janet Yellen's comment that equity valuations are "generally quite high".
Wall Street had opened higher, but reversed course early in the session after the U.S. Federal Reserve chair's comments in what has been a typically choppy trading session.
Yellen described risks to financial stability as "moderated, not elevated" and said she does not see any bubbles forming.
The S&P 500 closed above its record high late last month, while the Nasdaq was in striking distance of its record high. But mixed data has since pulled the indexes from those highs. Continuación...