Stocks fell on Thursday as interest rates hit new multiyear highs, dampening investor sentiment. On Wednesday, Fed Chair Jerome Powell said that the U.S. central bank had a long way to go before interest rates hit neutral, suggesting to markets that more hikes could be on the horizon. In particular the labor market looks to have tightened considerably, and recent commentary by the FOMC suggests that this has not gone unnoticed," said Michael Shaoul, chairman and CEO of Marketfield Asset Management.