Monetary Authority Singapore and Dow Jones Industrial Average DJIA

: Speaking to the Monetary Authority of Singapore, Williams also said the central bank shouldn’t use interest-rate policy to address risks to financial stability, according to Market Watch. The S&P 500 SPX, -0.13% closed 2.69 points, or 0.1%, lower at 2120.79. John Williams, president of the San Francisco Fed, said the U.S. central bank is likely to raise rates later this year, reiterating Chairwoman Janet Yellen view, expressed on Friday. The Dow Jones Industrial Average DJIA, -0.20% dropped 36.87 points, or 0.2%, to 18,126.12. Tim Dreiling, senior portfolio manager at the Private Client Reserve at U.S. Bank, said recent trading pattern of the S&P 500 index suggests we are in the waiting game before the first rate hike. The Nasdaq Composite Index COMP, -0.17% fell 8.62 points, or 0.2%, to 5,097.98, retreating slightly from the record level reached on Wednesday. (news.financializer.com). As reported in the news.