Markets drop heavily after Yellen comments

Stocks at the New York Stock Exchange dropped over 150 points throughout the afternoon of Wednesday, 6 May. The drop was attributed to Federal Reserve chair Janet Yellen, so said in conversation with IMF managing director Christine Lagarde that equality valuations are generally quite high. Capital markets economist at Moody’s Analytics, Ben Garber, said: “Janet Yellen’s warnings on valuation were not productive in terms of spurring confidence in the market.” The market partially recovered and closed 80 points down.
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Traders work on the floor of the New York Stock Exchange during the afternoon of May 6, 2015 in New York City. Stocks dropped over 150 points throughout the afternoon, though the market partially recovered and closed 80 points down. (Getty Images)
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Traders work on the floor of the New York Stock Exchange during the afternoon of May 6, 2015 in New York City. Stocks dropped over 150 points throughout the afternoon, though the market partially recovered and closed 80 points down. (Getty Images)
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Traders work on the floor of the New York Stock Exchange during the afternoon of May 6, 2015 in New York City. Stocks dropped over 150 points throughout the afternoon, though the market partially recovered and closed 80 points down. (Getty Images)
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Traders work on the floor of the New York Stock Exchange during the afternoon of May 6, 2015 in New York City. Stocks dropped over 150 points throughout the afternoon, though the market partially recovered and closed 80 points down. (Getty Images)
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Traders work on the floor of the New York Stock Exchange during the afternoon of May 6, 2015 in New York City. Stocks dropped over 150 points throughout the afternoon, though the market partially recovered and closed 80 points down. (Getty Images)
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Traders work on the floor of the New York Stock Exchange during the afternoon of May 6, 2015 in New York City. Stocks dropped over 150 points throughout the afternoon, though the market partially recovered and closed 80 points down. (Getty Images)
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Traders work on the floor of the New York Stock Exchange during the afternoon of May 6, 2015 in New York City. Stocks dropped over 150 points throughout the afternoon, though the market partially recovered and closed 80 points down. (Getty Images)
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Traders work on the floor of the New York Stock Exchange during the afternoon of May 6, 2015 in New York City. Stocks dropped over 150 points throughout the afternoon, though the market partially recovered and closed 80 points down. (Getty Images)
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