Market Open: Stocks Fall, Bonds Slump as 30-Year Yield Hits 20-Year High • 8/18/26

Stocks fall as long-bond yields climb to multi-year highs and oil rises amid US-Iran concerns. ECB economists warn AI exuberance could drive a correction and a global bond slump. Jim Cramer sees value in long-term Treasuries around 5.3%, while housing data show a weak, bifurcated market with only high-end custom builders showing green shoots. - Dow, S&P 500, and Nasdaq fall; chip stocks are broadly lower. - The 30-year Treasury yield hits 5.33%, its highest in 24 years. - ECB economists warn AI-driven exuberance may cause a market correction and global bond slump. - Jim Cramer says he likes 20-year Treasury paper at 5.3%. - July housing starts fall 12.4%, with single-family starts down 16% year-over-year. - Mortgage rates remain elevated near 6.73% and may move higher. - Only high-end custom builders are seeing green shoots, while production builders are weak. - Home Depot holds its outlook steady; Reddit joins the S&P 500, replacing Avalon Bay.