Stocks Sink as Yields Rise; Netflix Jumps on Earnings Beat While Tesla Sinks on Missed Estimates

Stocks fell on Thursday as Treasury yields rose for the 4th day in a row. Dow fell 0.75%, S&P 500 fell 0.9%, Nasdaq fell almost 1%.

Fed Chair Powell said inflation is still too high, signaling interest rates will remain high for extended period as economic growth is strong.

Netflix stock jumped over 16% after beating earnings estimates and announcing price hikes in US, UK, France.

Tesla stock sank over 10% after missing top and bottom line estimates. CEO Musk noted "enormous challenges" meeting Cybertruck demand.

Jobless claims hit lowest level since January at 198,000, adding to recent strong economic data like September retail sales.