Roundup: U.S. stocks end mixed amid Yellen's comments

U.S. stocks closed mixed Wednesday, as U.S. Federal Reserve Chair Janet Yellen signaled that the Fed still keeps door open to further interest rate hikes, but flagging risks could delay any further moves.

The Dow Jones Industrial Average fell 99.64 points, or 0.62 percent, to 15,914.74. The S&P 500 edged down 0.35 point, or 0.02 percent, to 1,851.86. The Nasdaq Composite Index rose 14.83 points, or 0.35 percent, to 4,283.59.

"With gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace in coming years and that labor market indicators will continue to strengthen," Yellen said in a testimony before the Committee on Financial Services of the U.S. House of Representatives on Wednesday.

But she acknowledged that financial conditions have become less supportive of growth, "with declines in broad measures of equity prices, higher borrowing rates for riskier borrowers, and a further appreciation of the dollar."

"These developments, if they prove persistent, could weigh on the outlook for economic activity and the labor market," Yellen said.

Yellen's testimony failed to offer any signal on whether the central bank will change the interest rate on its next policy meeting on March 15-16. She only repeated that the actual path of the interest rate will depend on incoming data.

There is no major economic report due out Wednesday.

Overseas, European equities rebounded Wednesday. German benchmark DAX index at Frankfurt Stock Exchange jumped 1.55 percent, while British benchmark FTSE 100 Index rose 0.71 percent.

In Asia, Tokyo shares retreated further Wednesday on stronger yen and concerns over global banking sector, with its benchmark Nikkei index dropping over 2 percent after a 5-percent decline in the previous day.

The CBOE Volatility Index, often referred to as Wall Street's fear gauge, fell 0.94 percent to end at 26.29 Wednesday.

In other markets, U.S. oil price retreated Wednesday as data showed the oil production of the country fell less-than-expected.

The West Texas Intermediate for March delivery moved down 49 cents to settle at 27.45 dollars a barrel on the New York Mercantile Exchange, while Brent crude for April delivery increased 52 cents to close at 30.84 dollars a barrel on the London ICE Futures Exchange.

The U.S. dollar traded mixed against other major currencies on Wednesday as investors were digesting the newly-released Federal Reserve chairwoman Janet Yellen's testimony.

In late New York trading, the euro declined to 1.1272 dollars from 1.1289 dollars in the previous session, while the dollar bought 113.76 Japanese yen, lower than 114.90 yen of the previous session.

Gold futures on the COMEX division of the New York Mercantile Exchange fell on Wednesday amid Yellen's remarks.

The most active gold contract for April delivery lost 4 dollars, or 0.33 percent, to settle at 1,194.60 dollars per ounce. Endit