
Market Close: Stocks Lower, 30-Year Yield at 19-Year High, Mortgage Rates Up • 8/18/26
CNBC Business News Update with Jessica Ettinger - Markets & Business News With Expert Analysis From Top Business Names. Visit CNBC.com For More.
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CNBC Business News Update with Jessica Ettinger - Markets & Business News With Expert Analysis From Top Business Names. Visit CNBC.com For More.

The U.S. Army said on Tuesday it had selected Hanwha Defense USA, a unit of South Korea's Hanwha Aerospace , to supply its new Mobile Tactical Cannon, marking a breakthrough for South Korea's biggest defence company in the U.S. weapons market.

Treasury yields hit multi-decade highs as the U.S. national debt nears $40 trillion, with the federal budget deficit projected at $2.1 trillion this year.

An AI dip dragged down major indexes on Tuesday.

Australia's stock market maybe emerging as a rare safe haven from the AI-driven volatility rattling Asian equities. A nascent rally has pushed valuations to the brink of overtaking India as the Asia-Pacific's priciest major market for the first time in six years.

ReNew Energy Global Plc is one of India's largest renewable power producers, expanding vertically into solar manufacturing and horizontally into batteries and decarbonization services. I rated RNW stock a Buy in February, citing strong revenue and EBITDA growth, a booming project pipeline, and sector-relative undervaluation. RNW's heavy debt and execution risks were outweighed by long-term upside potential and a significant EV/EBITDA discount to peers.

Wall Street doesn't seem all that worried about the stock market taking a turbulent turn in the near future. That, in itself, could be one reason investors should stay on high alert.

The 30-year U.S. Treasury yield is hovering around its highest level in nearly two decades. It rose to as high as 5.337%, its highest intraday high level since 2007.

US stocks ended lower on Tuesday as rising sovereign bond yields and elevated oil prices increased concerns about persistent inflation and borrowing costs. The S&P 500 fell 0.69%, while the Nasdaq Composite declined 1.33%.

Shehzad Qazi, COO of China Beige Book, said that expectations should be low for the upcoming meeting between President Trump and Chinese President Xi in September. Qazi said that the continued meetings between the two leaders acts as a way to continue the trade truce between the US and China and for China to try and 'run out the clock' on Trump's presidential term.

Plus, Pennsylvania restricts data-center construction and ABC sues the FCC.

Bloomberg Intelligence chief US interest rate strategist Ira Jersey said that part of the reason for the rise in yields for long-term treasuries is that US bonds have to compete with bonds from other countries like Japan. Jersey, who was joined by Bloomberg's Davide Barbuscia, said that buyers are concerned about the health of developed bond markets and need a higher yield incentive to buy.

Volatility has hit a new "floor," says Zed Francis, and he gives credit to AI chip stocks. He explains how the sector, combined with leveraged ETFs and a surge in positioning, caused the sudden uptick in volatility and its subsequent freefall.

The Investment Committee debate their retail sector strategy as some key names like Target and Walmart report earnings this week.

Adam Parker, Trivariate founder and CEO and CNBC contributor, joins 'Closing Bell' to discuss the 30-year treasury yield topping 5.33 percent.