"Powell's Cautionary Words Trigger Stock Market Slide and Treasury Yield Surge"

Stocks fell as Treasury yields continued to rise for the fourth consecutive day, putting pressure on the market. Federal Reserve Chair Jerome Powell stated that inflation is still too high, indicating that interest rates will remain high for an extended period. Investors are also monitoring the impact of elevated interest rates on corporate performance during the ongoing earnings season. Meanwhile, Netflix shares surged over 16% after the company reported strong earnings and announced price hikes in the US.