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Yellen Spooks Stocks

By Morning Outlook FOXBusiness

Markets tumbled Wednesday after Federal Reserve chair Janet Yellen said the central bank could begin raising interest rates earlier than expected. The Dow dropped 114 points, the S&P 500 fell 11 points and the Nasdaq Composite lost 25 points. 

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Toyota is paying a record $1.2 billion to settle safety investigation, the largest penalty ever imposed on a carmaker. Toyota admitted it deceived car owners and misled regulators about two deadly defects that caused sudden acceleration in their vehicles.

The FBI said Toyota put "sales over safety and profit over principle."

Meanwhile, how is your retirement savings going? 

According to a new survey, a third of Americans have put away $1,000 or less for the golden years -- total.

According to the Employee Benefits Research Institute, only 44% say they have tried to calculate how much they need to retire. The two reasons for not saving more? Cost of living and day-to-day expenses.

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