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Stocks retreat as Yellen outlines exit from stimulus

Stocks turned lower today as the Feds statement said officials predicted their target interest rate would be 1 percent at the end of 2015 and 2.25 percent a year later, higher than previously forecast.

By Callie Bost | Updated on March 19, 2014

March 19 (Bloomberg) — U.S. stocks fell for the first time in three days as Federal Reserve Chair Janet Yellen said the central bank’s stimulus program could end this fall and benchmark interest rates could rise six months later.

Walt Disney Co., General Electric Co. and Boeing Co. lost at least 1.5 percent to lead the Dow Jones Industrial Average lower. Consolidated Edison Inc. led utilities to the biggest declines among 10 groups in the Standard & Poor’s 500 Index.

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