As Yellen Spoke, Tesla Motors Inc Stock Tumbled

When Janet Yellen talks, the market listens.

Tech stocks took a breather from their torrid valuations

As she was discussing the stock market in detailed terms, calling out specific stock sectors on overvaluation concerns, a level of public detail not often communicated by a Fed chairman, certain high flying tech stocks she alluded to took a breather from their torrid valuations.

While Yellen said that generally stock market valuations didn’t look expensive, she did note that tech and social media high flyers might need to be questioned.

"Valuation metrics in some sectors do appear substantially stretched—particularly those for smaller firms in...