U.S. stocks fall after Yellen's speech

U.S. stocks ended mildly lower Tuesday as investors meditated on the comments from Federal Reserve Chair Janet Yellen.

The Dow Jones Industrial Average inched down 6.72 points, or 0.03 percent, to 20,651.03. The S&P 500 lost 3.38 points, or 0.14 percent, to 2,353.78. The Nasdaq Composite Index decreased 14.15 points, or 0.24 percent, to 5,866.77.

The Fed was shifting its focus from stimulating the economy to keeping growth on an even keel, Yellen reportedly said Monday after the closing bell.

Yellen said during an event at the University of Michigan that the economy was "pretty healthy," thanks in part to the Fed's long-running stimulus campaign, which the central bank is moving to end.

The Fed raised its benchmark interest rate in March for the third time since the financial crisis, and said it planned two more rate increases this year.

According to the minutes from the Fed's March meeting, the central bank also planned to begin reducing its large holdings of securities by the end of the year.

On the economic front, the number of job openings was little changed at 5.7 million on the last business day of February, said the U.S. Labor Department Tuesday.

Overseas, European equities closed mixed Tuesday. German benchmark DAX index at Frankfurt Stock Exchange dipped 0.50 percent, while British benchmark FTSE 100 Index added 0.23 percent.

In Asia, Tokyo stocks declined Tuesday as the yen's appreciation versus the U.S. dollar inhibited buying, with the 225-issue Nikkei Stock Average going down 0.27 percent. Enditem