Wall St. falls on weakness in materials, healthcare

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Stocks took a step back on Wednesday as many investors turned their focus to Friday, when Fed Chair Janet Yellen will speak in Jackson Hole, Wyoming. Bobbi Rebell reports.

Wall St. falls on weakness in materials, healthcare

Stocks took a step back on Wednesday led by declines in technology and defensive stocks. The market is looking for clues from Federal Reserve Chair Janet Yellen’s upcoming speech in Jackson Hole, Wyoming, on Friday about the central bank’s next rate move.

Jeff Kleintop of Charles Schwab:

(SOUNDBITE) JEFF KLEINTOP, CHIEF GLOBAL INVESTMENT STRATEGIST, CHARLES SCHWAB (ENGLISH) SAYING:

“I’m looking for what might the Fed do in the future if we find a year from now that the Fed needs to get more accommodative, cut rates, and do a bit more. What would they do? I think that is of interest to many investors?”

EpiPen maker Mylan stock down again. The drugmaker under pressure now from Hillary Clinton calling on the company to voluntarily drop the price of the severe allergy treatment device.

Ford is recalling about 91,000 vehicles worldwide to replace faulty fuel pump parts that could cause a car to stall without warning.

Turning to Europe. Shares were mostly higher helped by strength in the banking sector.

Tags : Healthcare, Materials, weakness, falls, Wall

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