Dow snaps 5-day win streak | Fed Chair Powell says inflation is too high | Boeing stock declines after plane crash

The Dow Jones Industrial Average snapped a five-day win streak, while the S&P 500 and Nasdaq Composite each broke a four-day positive streak.

VIEW IN BROWSER | SUBSCRIBE MON, MAR 21, 2022 EVENING BRIEF AS OF MON, MAR 21, 2022 • 04:42 ET DJIA 34552.99 -0.58% -201.94 S&P 500 4461.18 -0.04% -1.94 NASDAQ 13838.46 -0.40% -55.38   Most Active DOW NAME LAST CHG %CHG AAPL 165.38 +1.40 +0.85% VZ 51.10 +0.30 +0.59% INTC 47.39 -0.06 -0.13% S&P 500 NAME LAST CHG %CHG AMD 115.92 +2.46 +2.17% AAPL 165.38 +1.40 +0.85% F 16.48 -0.38 -2.25% NASDAQ NAME LAST CHG %CHG AMD 115.92 +2.46 +2.17% AAPL 165.38 +1.40 +0.85% NVDA 267.34 +2.81 +1.06%   EDITOR'S NOTE Comments from Federal Reserve Chairman Jerome Powell moved markets on Monday, with U.S. stocks falling as the central bank chief said inflation is too high.   Less than a week after the Fed raised interest rates for the first time since 2018, Powell on Monday vowed to take "necessary steps" to address inflation. He noted that those rate hikes could go from the customary increase of 25 basis points to a more aggressive boost of 50 basis points, if needed.   The major averages dropped to their lows of the session after Powell's remarks. The Dow Jones Industrial Average snapped a five-day positive streak, while the S&P 500 and Nasdaq Composite each broke four consecutive days of wins. The benchmark 10-year U.S. Treasury yield jumped up to around 2.3%, weighing on growth-oriented parts of the equity market. Technology names Microsoft and Facebook-parent Meta both ended the session with losses. "Stocks are surrendering some of their gains following four days of huge gains. … We're also settling into a period of very minimal news – other than Russia-Ukraine developments, the calendar is void of huge catalysts really until the Q1 earnings season (which starts in about a month)," Vital Knowledge's Adam Crisafulli said in a note Monday. Hannah Miao | CNBC Associate Markets Reporter @HannahMiao_ Watch our live stream for all you need to know to invest smarter. TOP NEWS  Dow snaps 5-day win streak as Powell says inflation is too high Boeing 737 passenger jet crashes in China with 132 people on board Russia says Biden's 'war criminal' claim has put relations 'on the verge of rupture' Powell says 'inflation is much too high' and the Fed will take 'necessary steps' to address Berkshire to buy insurer Alleghany for $11.6 billion in Warren Buffett's biggest deal in years SEC proposes broad climate rules as Chair Gensler says risk disclosure will help investors Buffett's buying spree may continue — Here's what Wall Street analysts say about the Alleghany deal Art Cashin says his gut tells him the stock market will be tested again soon Koch Industries' campaign donations questioned after company's decision to remain in Russia Supreme Court pick Ketanji Brown Jackson defends record in Senate confirmation hearing   TOP VIDEO SEC chief Gary Gensler on agency's proposed changes to climate disclosures   CNBC PRO These areas of the market could protect investors from stagflation, Jefferies says   SPECIAL REPORTS There are 4 weeks until the tax deadline. What filers need to know Financial advisors are still reluctant to use cryptocurrencies. Investor demand may change that   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS