"US stocks tumbled Thursday after Federal Reserve Chairman Jerome Powell predicted an increase in consumer prices this summer – something investors fear will force interest rates up sooner than expected."...the market reacted strongly to his interview. The 10-year US government bond yield jumped and was up 0.07% at 1.54% around the time of the closing bell."Meanwhile, stocks sold off. The Dow finished down 1.1%, or 346 points, and the S&P 500 closed 1.3% lower."The Nasdaq Composite fell even more sharply, tumbling 2.1%. The index managed to just avoid dipping into correction territory – defined as a 10% drop from its most recent high – as it was down 9.7% from its February 12 record high. The Nasdaq has erased its gains for the year."