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Mangueira, one of the most traditional and respected samba schools in Brazil, was declared winner Wednesday of the 2016 Rio Carnival parade championship. The samba ensemble won its 18th title with a sumptuous samba parade on Monday night that involved 4,300 participants in a blur of costumes, pounding music and fantastical floats. Fans of the samba school, which is rooted in Rio's Mangueira favela, screamed and leapt in joy as the results were read out at a ceremony in the purpose-built dancing stadium, the Sambadrome.
The Dow and S&P posted their fourth straight day of losses while the Nasdaq ended its three-day down streak. The market had traded higher for much of the session after Yellen told Congress she does not expect the central bank to reverse the rate hike program it began in December. "The market was strong (early in the day) because Janet Yellen confirmed the fact the Fed would go very slow on rate hikes because the economy was showing some signs of sluggishness," said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia.
Twitter Inc's said average monthly active users stalled in the fourth quarter - the first flat quarter sequentially since the company listed in 2013. Twitter shares fell 6.6 percent at $13.99 in after-hours trading, after the social media company's revenue forecast for the current quarter missed analysts' expectations. The weak results will stoke investor concerns over the company's stalling growth and the effectiveness of Chief Executive Jack Dorsey's turnaround strategy.