# Rising Yields and Tech Sell-Off Ahead of July FOMC Minutes : Wednesday, August 19, 2026

- Source: https://orderflowfutures.com/news/2026-08-19
- Site: OrderFlowFutures (https://orderflowfutures.com)
- Edited by: Tom, Trader & founder of OrderFlowFutures (https://orderflowfutures.com/a-propos#auteur)
- Published: 2026-08-19
- Updated: 2026-08-19
- Reuse: free to quote and cite, with attribution to OrderFlowFutures and a link to the source URL.

> Rising global bond yields and Middle East tensions are weighing on equity indices and tech stocks. With US futures trading flat, the release of the FOMC minutes will act as a key catalyst for today's session.

## Bond yields and monetary policy
- **Pressure on sovereign yields**: The US 30-year Treasury yield reached **5.34%**, its highest level since June 2007. In Germany, 10-year and 30-year borrowing costs also hit 15-year highs, driven by rising public debt and defense spending requirements.
- **US monetary policy**: Investors remain cautious ahead of the release of the minutes from the Federal Reserve's July monetary policy meeting, seeking clues on the future interest rate trajectory.

## Indices, tech sector, and geopolitics
- **Semiconductor sell-off**: Rising yields and oil-driven inflation fears triggered a sharp pullback in the tech sector. In the US, SanDisk (-9%), Marvell Technology (-9%), Seagate (-8%), and Western Digital (-7%) posted steep losses, dragging down Nvidia and Micron as well. In Europe, STMicroelectronics dropped **7.64%**.
- **Index markets**: US equity futures are trading near flat. In Paris, the CAC 40 recorded its sixth consecutive session of losses (-0.82% to 8,509.36 points), testing the 8,500-point support level.
- **Geopolitics and trade**: Oil tanker traffic in the Strait of Hormuz slowed (6 vessels on Tuesday versus a 10-day average of 11) amid the ongoing war in Iran and the US naval blockade. Meanwhile, Donald Trump delayed the implementation of 50% tariffs on Canada by three days, stating a trade deal is close.

## To watch today
- **Release of the FOMC minutes** from the Federal Reserve's July meeting.
- **US corporate earnings**, including reports from **Target** and **Analog Devices**.
- **Sovereign yield trends** and security developments in the Strait of Hormuz.

*Brief compiled from the morning's news flow, AI-assisted and reviewed before publication. Not investment advice.*