Wall Street Slides as Treasury Yields Surge to 19-Year High 
Canada Faces 50% U.S. Tariffs as Trade Tensions Threaten USMCA Talks 
Colombia Earthquake Losses Estimated at $9.58 Billion as Reconstruction Challenge Mounts 
Gold Prices Edge Higher as Dollar Weakens Ahead of Fed Minutes 
Oil Prices Rise as US-Iran Tensions Renew Strait of Hormuz Supply Fears 
Oil Prices Rise as Iran-U.S. Tensions Threaten Strait of Hormuz Supply 
Citadel Warns High Treasury Yields Pose Broader Market Risks 
US Dollar Hovers Near Multi-Month Lows as Fed Rate Hike Bets Ease 
European Stocks Slide as Iran War Escalation Sends Oil Higher 
UK Inflation Rises to 2.9% in July as Energy Costs Climb 
U.S. Public Debt Tops $40 Trillion for First Time 
Asian Currencies Rise as Dollar Hovers Near Multi-Month Lows 
Trump Pauses 50% Canada Tariffs for Three Days as U.S. Trade Deal Takes Shape 
Switzerland Industrial Production Jumps 5.5% in Q2 2026 
Australian Consumer Sentiment Jumps 6% in August as Rate Outlook Improves 
Gold Prices Slide as Treasury Yields Surge, Fed Minutes in Focus 
Asian Chip Stocks Plunge as Bond Yields Fuel AI Valuation Fears 
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Wall Street closed higher Wednesday as falling U.S. Treasury yields helped offset weakness in technology and semiconductor stocks, while investors assessed Federal Reserve minutes that highlighted persistent inflation concerns.
The S&P 500 rose 0.2% to 7,710.70, while the Nasdaq Composite gained 0.2% to 26,331.09. The Dow Jones Industrial Average also advanced 0.2%, finishing at 53,463.11.
U.S. Treasury yields retreated after the Treasury Department announced plans to double buyback operations for long-dated bonds starting September 9. Buybacks covering the 10-to-30-year maturity range will increase from $2 billion to $4 billion per operation, providing liquidity support to a bond market pressured by inflation worries and heavy corporate debt issuance.
The 30-year Treasury yield dropped about 9.9 basis points to 5.186%, after reaching 5.337% a day earlier, its highest level since 2007. Lower yields offered some relief to equities following concerns that rising borrowing costs could weigh on valuations.
Meanwhile, minutes from the Federal Reserve’s July meeting showed policymakers remained concerned about inflation. Many officials indicated that additional interest rate hikes could become necessary if inflation failed to ease. Officials also viewed inflation risks as tilted to the upside amid continued Middle East tensions and potential supply-chain disruptions.
Oil prices remained elevated as tensions between the U.S. and Iran over the Strait of Hormuz continued. Brent crude climbed 0.4% to around $91.40 per barrel.
Among individual stocks, Marvell Technology surged nearly 10% after announcing an expanded agreement with Alphabet’s Google to develop custom silicon for artificial intelligence applications. Stifel estimated the partnership could generate as much as $120 billion in cumulative revenue over roughly six-and-a-half years.
Moderna soared about 177% after its experimental mRNA melanoma treatment, developed with Merck and combined with Keytruda, succeeded in a late-stage trial. Merck gained 12.6%.
In retail, Lowe’s rose 2.3% despite lowering its annual sales outlook, while Target jumped 4.3% after raising its full-year sales forecast for the second consecutive quarter.
