Meet the latest share tipster:
Alongside her Tuesday appearance, the Fed announced that "valuation metrics in some sectors do appear substantially stretched - particularly those for smaller firms in the social media and biotechnology industries".
Which translated as "sell tech shares" as far as the market was concerned, and the likes of
But there came another Yellen testimony on Wednesday, when she said the Fed did not have a target for equity values and instead looked at how they compared with historical performance. "In that sense, I am not seeing alarming warning signals," she said. Cue recovery (although with the Malaysian plane tragedy this did not last long).
Yellen: no alarming warning signals.
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