Federal Reserve Chairwoman Janet Yellen had a tall order going into her Capitol Hill testimony — give investors something to smile about. In the harsh daylight, she appears to have bitterly disappointed them, as she failed to release enough doves.
The dollar has been sent to levels not seen since October 2014 against the yen, and oil prices are under $27. Stock futures point to nothing short of a bloodbath when Wall Street opens, if this keeps up. The yen, of course, has a long history of pushing around stock market bulls.
