Tech Stocks Pull Nasdaq Composite Down

Tech Stocks Pull Nasdaq Composite Down

Tue, August 18, 2026 at 7:39 PM GMT+3 1 min read

Stocks are in the red and borrowing costs around the world are at multiyear highs, as investors fret over heavy fiscal spending and inflation.

The 30-year U.S. Treasury yield is hovering near 5.3% after hitting a 19-year intraday high earlier in the day; Japanese long-dated yields are close to a record high. Pushing up bond yields: The capital-hungry AI industry's huge appetite for debt, which puts it in competition with traditional nation-state borrowers.

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Equities are also struggling, with the Nasdaq down over 1%. Chip stocks are getting hit hard, with the PHLX Semiconductor index down more than 5% and some of its components (Intel, Marvell, ARM Holdings, Coherent, and Teradyne) down 7% or more.

Renewed tensions in the Middle East are weighing on markets. An unknown projectile struck a cargo ship in the Strait of Hormuz overnight, the British navy's marine-traffic monitoring agency said.

The attack came after a 60-day truce between the U.S. and Iran expired yesterday with few signs of progress towards a permanent deal to replace it. President Trump wrote this morning that no talks are planned with Iran.

Brent crude oil prices are hovering around $91 a barrel.

Write to Alexander Osipovich at alexo@wsj.com

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