A flashing yellow traffic signal at an intersection means:

Slow down and be alert at the upcoming intersection.
Stop. Yield to all cross traffic before crossing the intersection.
Increase your speed and proceed through the intersection before the traffic signal changes to red.
The same thing as a stop sign.
Explanation

A flashing yellow traffic signal light means you should proceed with caution, and indicates that you should slow down, check for cross traffic, and be alert before entering the intersection. You should yield to any pedestrians, bicyclists, or vehicles already in the intersection.

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