U.S. stock indices wavered a bit at the open after Fed Chair Janet Yellen's statements in her testimony ahead of Congress, which increased the odds of a gradual increase in interest rates in 2017.
Yellen warned from delaying rate-hike decisions for its negative impact on the economy, weighing on stocks as they get hurt by increasing borrowing costs and as liquidity moves away from them towards banks and bonds.
The dollar returned higher today, paring the losses after the bullish statements from Yellen, in turn hurting shares of American exporters today.
On the other hand, crude prices returned higher today after tumbling yesterday, underpinning energy shares on Wall Street and preventing a real decline for the indices.
Standard and Poor's 500 fell 0.14%, or 3.31 points to 2,324.94, while Dow Jones shed 0.09%, or 19.21 points to 20,392.95.
Tech-heavy NASDAQ dipped 0.21%, or 12.01 points to 5,751.95.