Yellens warning weighed on Wall Street – Dagens Industri

Yellens warning weighed on Wall Street

                  2015-05-06 22:09
             

The head of the US central bank, Janet Yellen, warned on Wednesday that the valuations in the stock market is high and could damage the economy. The warning voiced at an economic conference where even IMF chief Christine Lagarde emerged and investors immediately pulled in their horns.

Negative employment numbers adding to the bad mood. It was created 169 000 new jobs in the private sector in the United States in April. Economists had on average expected 200,000 new jobs. The figures, from payroll services firm ADP, was an appetizer before the month’s most important figure that comes on Friday. This will release official data on the employment of the entire labor market was developed in April in the US.

The Dow Jones industrial index was down 0.5 percent, while the Nasdaq Composite Index fell 0.4 percent.