Yes, it is called Overscroll, and its behaviour is specified by the CSS style sheet for the page you are viewing. As such it's not something you can change at your end, it is set by the web page designer. Here's a description with a demo page embedded in it where you can see it in action.
The overscroll-behavior CSS property sets what a browser does when reaching the boundary of a scrolling area.
developer.mozilla.org
There is just one thing you can do at your end to avoid it though. Do NOT use the mouse scroll wheel or two-finger scrolling on a touch pad to scroll through the inner container (such as the Alert dropdown menu). Instead click and drag its own scroll bar.
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