Risk appetite diminished as Fed Chair Janet Yellen reiterated hawkishness before the House Committee. She suggested that, as recent data show, the economy is on track to meet the Fed’s dual mandate. Wall Street retreated with the DJIA and S&P 500 indices losing -0.28% and -0.35% respectively. In the commodity sector, crude oil pared the gains made in the prior day. The front-month WTI contract dropped -3.29% while the Brent contract fell -3.88%.
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Yellen Reiterated Possibility of Rate Hike in December
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