Published August 19, 2026 Updated about 3 hours ago NEW YORK: Wall Street’s main indexes hit their lowest in two weeks on Tuesday, pressured by losses in heavyweight technology stocks, while fading hopes for a US-Iran peace deal sustained gains in oil prices and kept government bond yields at multi-year peaks. Chipmakers as well as other megacap and growth stocks declined as high government bond yields potentially lower the present value of future tech profits and increase corporate borrowing costs. The Philadelphia SE Semiconductor index fell 5.4 percent and is on pace to evaporate more than USD680 billion in market value, if losses hold. Data storage firms Sandisk and Western Digital, along with memory chipmaker Micron Technology were among the worst hit. The Roundhill Memory ETF slid 7.9 percent. Nvidia dropped 2.4 percent and Meta Platforms lost 3 percent. The S&P 500 Information Technology sector was the biggest drag, down 2.1 percent. The yield on the 30-year Treasury bond stood at its highest since 2007, while that on the benchmark 10-year maturity held near its highest since January 2025. Brent crude futures also gained 1.2 percent to around three-week highs, after Iran’s threat to shift to a “fully offensive” military posture and Washington ruling out extending a ceasefire deal heightened concerns over a prolonged conflict. The S&P 500 Energy sector rose 1.5 percent and was a whisker away from hitting an all-time high. “With geopolitical risks adding another layer of uncertainty, investors should brace for heightened volatility across equities, currencies,…