It is possible to disable the feature in Chrome browser version 41 until version 74. The easiest way to disable this was to visit the chrome://flags in your Chrome address bar and disable the pull-to-refresh effect,
chrome://flags (disable-pull-to-refresh-effect)
Since version 75 (2019), the pull-to-refresh gesture is mandatory and can only be disabled for individual websites by site owners using a CSS property. There is no option for the end user to disable it for all sites.
Preventing the pull-to-refresh effect: (Based on this Chromium docs)
The default action of the pull-to-refresh effect can be effectively prevented by doing any of the following :
Applying “touch-action: none” to touch-targeted elements, where appropriate, disabling default actions (including pull-to-refresh) of the touch sequence.
Applying “overflow-y: hidden” to the body element, using a div for scrollable content if necessary.
preventDefault’ing some portion of the touch sequence, including any of the following (in order of most disruptive to least disruptive): 1. The entire touch stream (not ideal). 2. All top overscrolling touchmoves. 3. The first top overscrolling touchmove. 4. The first top overscrolling touchmove only when 1) the initial touchstart occurred when the page y scroll offset was zero and 2) the touchmove would induce top overscroll.
Disabling the effect locally via chrome://flags (disable-pull-to-refresh-effect).
Note that the pull-to-refresh effect will never activate if any scrolling occurs before the overscrolling motion, e.g., if the user first scrolls down, then back up, or if the page scroll offset is 0 but has a scrolling div that the user scrolls up before overscrolling.
Note:
The pull-to-refresh swipe-down feature is added to Chrome version 41.0.2272.92. So any version below that won't have the pull-to-refresh feature.