Receive Breaking News updates as they occur
By Sinead Carew NEW YORK (Reuters) - The U.S. dollar rose and stocks also gained ground on Wednesday after Federal Reserve Chair Janet Yellen suggested the U.S. central bank was ready to raise interest rates quickly this year. U.S. Treasury yields rose too after Yellen said "waiting too long to begin moving toward the neutral rate could risk a nasty surprise down the road - either too much inflation, financial instability, or both." Oil futures tumbled, however, dragging down the energy sector index , which was one of the biggest weights on the S&P 500. Yellen's comments were not seen as a departure from the Fed's previous tone but they highlighted strong U.S. fundamentals which support a strong dollar, high yields and stocks.
The rock supergroup Audioslave on Wednesday announced its first concert in more than a decade as part of protests against Donald Trump's presidential inauguration. Audioslave -- fronted by Soundgarden's Chris Cornell with guitarist Tom Morello and other members of Rage Against the Machine -- will play the "Anti-Inaugural Ball" Friday in Los Angeles. The show will be led by Prophets of Rage -- a newer supergroup that brings together Morello with Public Enemy rapper Chuck D and Cypress Hill rapper B-Real.
BOGOTA, Colombia (AP) — Colombia's second-largest rebel group has agreed to free a prominent politician held captive for almost a year, clearing the way for repeatedly postponed peace talks to begin next month, President Juan Manuel Santos said Wednesday.