Stocks stumble as jobless claims rise and Powell speech looms.

The Dow Jones Industrial Average fell as investors analyzed initial jobless claims data ahead of Fed Chair Jerome Powell's monetary policy report to the Senate Banking Committee. Tesla stock skidded after another analyst downgrade. First-time jobless claims rose to 264,000, above estimates. The Senate calendar calls for Powell's testimony to begin at 10 a.m. Meanwhile, the Bank of England raised its key interest rate by a half-percentage point, upping the lending rate to 5%, its highest level since April 2008.