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Stock Market Climbs Even As Internet Names Skid

wochit business
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May 07, 2014 AT 3:10 PM
Soothing words from Federal Reserve Chair Janet Yellen helped pull the stock market out of a morning slump Wednesday. But Internet companies and Whole Foods Market plunged, taking the Nasdaq down. Whole Foods plunged 19 percent after cutting its profit forecast. Yellen told the Joint Economic Committee of Congress that a tough job market and weak inflation meant that the Fed will likely keep borrowing rates low for a "considerable time."