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Informist, Wednesday, Aug. 19, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: US indices end lower as bond yields rise amid higher oil prices

 

MUMBAI--0730 IST--US indices ended lower Tuesday as fears of inflation and oil prices remaining higher pushed sovereign bond yields to their highest level in decades. All three major indices ended lower for the third consecutive session. Losses in semiconductor stocks pulled down the tech-heavy Nasdaq Composite harder than its peers. The index closed over 1% lower.

 

Stocks of chip majors and allied stocks were among the worst-hit Tuesday. Shares of data-storage player Western Digital ended over 7% lower, while chip major Sandisk closed more than 9% lower. Marvell Technology closed nearly 8% lower.

 

Tuesday offered little hope to global investors awaiting signs of a resolution to the West Asia war. US President Donald Trump said in a social media post that the US was not involved in any "talks or conversations" with Iran, nor are there any scheduled. He also said that the naval blockade "remains in full force and effect". Subsequently, oil prices remained higher with the October futures contract of Brent crude oil touching nearly $92 per barrel.

 

With investors remaining anxious over the prospects of oil prices remaining high, yields on government bonds across several countries have been rising lately. Tuesday, yields on 30-year US treasury bonds touched their highest level since 2007. In Europe, yields on Germany's 30-year bond touched their highest level since 2011, while those of its French counterpart touched their highest point since 2008, according to a CNBC report. Further, the yield on Japan's 10-year bond breached a three-decade high.

 

"It starts off almost like a domino effect. Talks break down. That leads to oil prices going up. That leads to higher inflation expectations and bond yields rise," Burns McKinney, portfolio manager at NFJ Investment Group, told Reuters. He added that "every time bond yields rise, that tends to disproportionately hit the technology names."

 

Investors in the US will also look out for the minutes from the US Federal Reserve's July meeting due later in the day for clues about how the regulator is assessing the current climate.

 

Following are the closing levels of major US indices Tuesday:

 

Index	Level	Change in %
Dow Jones Industrial Average	53343.4	(-)0.2
NASDAQ Composite	26289.7	(-)1.3
S&P 500	7691.76	(-)0.7

 

 

(Shruti Nair)

 

US$1 = INR 95.68

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Akul Nishant Akhoury

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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