Market Midday: Stocks Fall, Bond Yields Surge, Meta Trial Begins • 8/18/26

The midday update covers a risk-off tape as stocks fall and global bond yields climb, with oil supported by the ongoing US-Iran war. A global bond slump pushed the 30-year Treasury yield to a 24-year high and mortgage rates toward 7%, prompting warnings that equities may not ignore rising yields. Housing starts disappointed sharply, particularly single-family, while Meta's child-data trial began in Oakland. - Major averages are lower midday; Dow, S&P 500, and Nasdaq all decline. - Bond yields surge globally; 30-year Treasury hits 5.33%, 10-year at 4.74%. - Oil is higher with no end in sight to the US-Iran war. - Caterpillar leads the Dow lower, down nearly 5%; chipmakers pressure the Nasdaq. - Mark Newton warns the bond market is showing its hand and equities won't ignore it for long. - July housing starts fell 12.4%, with single-family down 16% year-over-year. - Mortgage rates near 7% are hurting production homebuilders. - Meta trial begins over alleged child data misuse and about $200 billion in damages.