U.S. Equities Closed Lower on Central Banks and Russia Tensions

U.S. stocks mostly fell on Friday, with the S&P 500 halting a four-session win streak that lifted it to a record, as investors weighed rising tension between Russia and Ukraine and speeches by European Central Bank President Mario Draghi and Federal Reserve Chair Janet Yellen.

Both central bankers gave the market what was expected, with Yellen reiterating that slack remains in the U.S. labor market even as the American economy continues a five-year recovery and Draghi expressing confidence that stimulus already announced and a weaker euro would help the euro-zone economy, but the ECB is ready to do more if needed.

“I don’t think there was anything earth shattering out of her mouth, the labor market has gotten better,” said Doug Foreman, chief investment officer at Kayne Anderson Rudnick.

CNBC

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