U.S. stocks fell Wednesday after Federal Reserve Chairwoman Janet Yellen drew attention to elevated valuations in the equity market. Stocks traded in a wide range, with the Dow falling as much as 147 points earlier in the morning before finishing the session down 86 points, or 0.5%, at 17,842. The broader S&P 500 closed 0.4% lower at 2,080. Investors also received a disappointing report Wednesday on private-sector employment. Private payrolls in the U.S. increased by 169,000 in April, according to a report compiled by payroll processor ADP and forecasting firm Moody's Analytics. Economists surveyed by The Wall Street Journal had expected an increase of 205,000 jobs. This also saw the U.S. dollar drop to a two-month low against the euro on Wednesday.
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