Janet Yellen halted the U.S. equity rally, boosted the dollar and sent two-year Treasury yields to the highest since 2011 after she said the economy’s performing well and December remains a “live possibility” for higher interest rates.
The Standard & Poor’s 500 Index fell from a three-month high, the dollar strengthened against emerging-market currencies and two-year Treasury yields topped 0.80 percent after the Fed chair’s comments pushed the odds for a December rate increase to 58 percent. Oil retreated as inventories rose.
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