Stocks dip after Yellen remarks; U.S. oil off 3%
Stocks reversed course and ended slightly lower as investors digested testimony from Federal Reserve Chair Janet Yellen and awaited a vote on Greece's bailout plan.
Tensions mounted in Greece as protesters opposed to the deal clashed with police outside the Greek Parliament.
Stocks broke a four-day winning streak as the Dow Jones industrial average ended down a fractional 0.02%.
The Standard & Poor's 500 index dropped 0.1% and the Nasdaq composite index fell 0.1%.
STOCKS: Live markets blog
In testimony before Congress, Yellen told legislators that the Fed is on track to begin raising interest rates this year as the economy continues to improve. She also reiterated the rate hikes would be gradual and dependent on economic data.
Oil prices fell Wednesday as U.S. benchmark crude dropped 3.3% to $51.29 a barrel. The drop came after a volatile trading day on Tuesday saw oil prices swing widely after news that Iran agreed to a nuclear accord in exchange for the lifting of economic sanctions.
In Europe, Greece's left-wing government must push a deal from its creditors through the nation's parliament by Wednesday. European markets from Germany to France traded with little enthusiasm and were effectively on hold ahead of the vote.
Germany's DAX index rose just 0.2% and the CAC-40 index in France gained 0.3%. Britain's FTSE 100 was flat.
Chinese stocks fell sharply even as economic growth surpassed Beijing's expectations. The Shanghai composite index fell 3% to 3,806.49 despite China's economy expanding 7% in the April-June quarter, slightly above forecasts.
Stocks in Japan went the other way. The Nikkei 225 index added 0.4% to 20, 463.33.
Follow Kim Hjelmgaard on Twitter: @khjelmgaard.