Netflix Inc. (NFLX.O) missed Wall Street's third-quarter profit projections due to an unexpected tax bill in Brazil.

Netflix shares tumbled in premarket trading Wednesday after the streaming giant's third-quarter earnings came in short of Wall Street expectations. Monitor these key chart levels.

Markets are in the red this morning. Still at record highs, the major indices are down at the moment on earnings, on trade war concerns, and on rising oil prices. Tesla (NASDAQ: TSLA) missed on earnings,

The Dow touched an intraday record high while the Nasdaq slipped as investors focused on a wave of quarterly earnings while remaining vigilant about US-China trade tensions.

The share price of streaming giant Netflix dropped by 7% as the company reported disappointing third-quarter earnings and blamed a Brazilian tax dispute.

The streamer's third-quarter earnings fell short of Wall Street estimates after logging a one-time tax expense in Brazil. Even the "KPop Demon Hunters" were no match for the jump scares in Netflix's ( NFLX) latest earnings .

Netflix's $120 billion stock market rally this year faces a crucial test on Tuesday: proving that its costly investments into advertising and video gaming can support the growth that made the streaming pioneer a Wall Street darling.

Stocks are drifting near their record heights on Wall Street, while the price of gold falls again to trim more off its tremendous gain for the year.