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U.S. stock indexes fell and the bond yield rally paused ahead of testimony from Jerome Powell in which the Federal Reserve chairman is set to be grilled by lawmakers on inflation and interest rates.
Most of the stock market fell Tuesday, deepening a slide that has pushed shares of many companies into the red to start the year. Shares of fast-growing companies fell alongside stocks more closely tied to the economy, as the prospect of imminent and faster-than-expected interest-rate rises has convulsed financial markets this month.