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Informist, Wednesday, Aug. 19, 2026

MUMBAI – Asian stocks plunged Wednesday, tracking their US peers, which fell due to higher government bond yields and persistant sell-off in tech-related stocks, and elevated crude oil prices.

Crude oil prices held steady above $90 per barrel amid ongoing war in West Asia, with US President Donald Trump saying no talks were underway or scheduled with Iran. This came after both the countries refrained from renewing ceasefire deal, which expired Monday. 

Although Trump insisted that the critical Strait of Hormuz was open, commercial vessel traffic through the Strait remained depressed. At 0640 IST, Brent crude oil for October delivery was at $91.71 per barrel. Meanwhile, United Arab Emirates said it detected two ballistic missiles launched toward the country from Iran. 

CURRENCIES: The dollar index edged higher Wednesday due to safe-haven demand for the greenback amid the West Asia war. The index hovered near two-month lows Tuesday after traders scaled back expectations for a Federal Reserve interest rate hike this year following a run of weak US economic data. Investors await the minutes of the Fed's July meeting, due Wednesday, for further cues on the policy outlook. Market pricing in a quarter-point hike September flipped toward a 65% chance of a hold, after recent news of unexpected job losses in July and other economic data.

The Japanese yen rose slightly Wednesday, but remained near 159.50 per dollar, having erased nearly half of the gains from the joint US and Japanese intervention at the end of July. 

--EUR/USD: $1.16 per euro, flat vs Tuesday and Monday

--USD/JPY: 159.49 yen per $1 vs 159.58 Tuesday, 159.40 Monday

--Dollar Index: 99.66 vs 99.64 Tuesday, 99.58 Monday

BONDS: Rising oil, an AI borrowing spree, and concern over government borrowing have also lifted bond yields globally in recent days. The 10-year Treasury yield eased some gains but remained elevated at 4.70%, highest level since early 2025, and the 30-year yield held near a 19-year high.

--10-year US bond yield: 4.71% Wednesday vs flat Tuesday

STOCKS 
ASIA: Rising bond yields, crude oil prices, and continuous tech stocks sell-offs led to a fall in Asian stocks Wednesday. Technology shares fell with chip bellwethers Samsung Electronics Co. and SK Hynix Inc. both declining around 7% on Wednesday after a closely watched US gauge of semiconductor stocks sank 5%. In Japan, SoftBank Group dropped 5.4%, while chip equipment maker Tokyo Electron was 3.8% lower. 

--NIKKEI 225: 65843.47 Wednesday, down 1617.26 points, or (-) 2.4% vs Tuesday

--HANG SENG: 25322.07 Wednesday, down 149.08 points, or (-) 0.59% vs Tuesday

US: Stocks fell on Tuesday due to sell-off in technology stocks and elevated oil prices and government bond yields.

The tech-heavy Nasdaq Composite fell 1.3%, pulling down major indices. The Dow Jones Industrial Average declined by 0.2%, while the S&P 500 pulled back by 0.7%, extending losses after a downbeat start to the trading week. Traders focused on the conflict in West Asia, with the ceasefire between the US and Iran expiring Monday as negotiations between the two sides have stalled. 

--NASDAQ Composite: 26289.71 Tuesday, down 355.20 points, or (-) 1.33% vs Monday

--DJIA: 53343.4 Tuesday, down 116.38 points, or (-)0.22% vs Monday
--S&P 500: 7691.76 Tuesday, down 53.30 points, or (-)0.69% vs Monday

EUROPE: European shares closed lower on Tuesday amid rising bond yields and higher oil prices as the supposed US-Iran 60-day "ceasefire" came to an end with zero progress made towards a peace deal and the Strait of Hormuz effectively closed.

--EURO STOXX 50: 6468.17 Tuesday, down 62.28 points, or (-)0.95% vs Monday

COMMODITIES 
CRUDE OIL: Brent crude oil strengthened above $90 per barrel on Wednesday, extending gains for a fourth consecutive session as the US and Iran showed little indication of reaching an agreement to end the conflict and reopen the Strait of Hormuz, keeping supply concerns elevated.

--ICE Brent Oct futures (per barrel): $91.73 Wednesday vs $91.02 Tuesday
--NYMEX WTI Sept futures (per barrel): $85.71 Wednesday vs $84.94 Tuesday

PRECIOUS METALS: Gold eased below $4,400 an ounce on Tuesday, reversing earlier gains amid a broad pullback across the metals market as global bond yields surged to multi-year highs on mounting concerns over massive government spending. Metal also faced pressure from rising oil prices, which kept inflationary risks and interest rate concerns in focus.

--COMEX Oct gold futures (ounce): $4,352.8 Wednesday $4,387.8 Tuesday 
--COMEX Sept silver futures (ounce): $62.92 Wednesday vs $64.04 Tuesday 

End

US$1 = INR 95.6800

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

Compiled by Divya Moolayattil

Edited by Akul Nishant Akhoury

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