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Strategies & Market Trends : The New Economy and its Winners

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From: Doren	7/15/2014 2:36:43 PM
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Federal Reserve warns of overvalued social media stocks bbc.com In a separate monetary policy report released as part of the Fed's semi-annual testimony in front of Congress, the Fed wrote: "Valuation metrics in some sectors do appear substantially stretched - particularly those for smaller firms in the social media and biotechnology industries, despite a notable downturn in equity prices for such firms early in the year." That sent all three major US indexes into the red after they had been trading slightly higher during the morning. Overall, Ms Yellen sought to allay concerns that US stock markets were in a "bubble" after the Dow Jones Industrial Average and the S&P 500 hit record highs this year.

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