Western Union Pops on Deal Talk; Stocks Slip on Yellen Warning

Stocks slipped in midday trading Wednesday after Fed Chair Janet Yellen warned of potentially stretched valuations. Western Union (WU) jumped on reports the payment services company is in talks to buy smaller rival MoneyGram (MGI). Wendy's (WEN) was higher after reporting an increase in same-restaurant sales. The chain sees high-single digit earnings growth through to 2017. Fossil Group (FOSL) plummeted despite beating quarterly estimates. The watch company issued full-year earnings guidance on the soft side as currency hits sales. It's been a choppy session so far with the Dow plunging more than 150 points at its lowest.