Janet Yellen

US stocks open lower on worries about global growth


KEEPING SCORE: The Standard & Poor's 500 index fell 18 points, or 1 percent, to 1,919 as of 10:15 a.m. Eastern time. The Dow Jones industrial average dropped 188 points, or 1.2 percent, to 16,083. The Nasdaq composite fell 49 points, or 1.1 percent, to 4,702.

Fed vice chair in spotlight as markets seek rate hike clues

The market's ride and how the Fed will react provide the backdrop for the annual high-profile economic conference in Jackson Hole, Wyoming. Fed Chair Janet Yellen decided to skip this year's meeting, so Vice Chairman Stanley Fischer is commanding top attention, with investors eagerly parsing his every word.

Fischer's message: Incoming economic data and market developments over the next two weeks will play crucial roles in determining whether the Fed raises interest rates at its September meeting.