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Alan Greenspan
Stock indexes close slightly higher a day after a drop
Stock indexes close slightly higher a day after a drop

Stocks rose moderately Thursday in relatively quiet trading, a contrast to the heavy selling that occurred a day earlier when Federal Reserve Chair Janet Yellen suggested that stock prices might be too high. The bigger action was in the bond market. U.S. Treasurys rose sharply in the afternoon, sending benchmark yields lower, a day after a flood of selling. Yellen caught investors off-guard Wednesday by saying stock values were generally “quite high.” She was speaking response to a question about risks to financial stability at a conference in Washington. Historically, Fed officials do not usually offer opinions about market levels. In the mid-1990s, stocks swooned after...

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