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Markets

U.S. Stocks Mostly Lower As Treasury Yields Extend Recent Surge

May 19, 2026 — 11:07 am EDT

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(RTTNews) - Stocks have moved mostly lower over the course of the trading day on Tuesday, with the major averages all moving to the downside after ending yesterday's session mixed. The tech-heavy Nasdaq has shown a notable decline.

Currently, the major averages are off their lows of the session but still in negative territory. The Nasdaq is down 269.07 points or 1 percent at 25,821.67, the S&P 500 is down 50.58 points or 0.7 percent at 7,352.47 and the Dow is down 175.35 points or 0.4 percent at 49,510.77.

Weakness among technology stocks continues to weigh on Wal Street amid concerns about valuations following the recent surge to record highs.

The extended pullback by the tech sector comes as traders look ahead to the release of Nvidia's (NVDA) first quarter results after the close of trading on Wednesday.

With Nvidia seen as a leader in the artificial intelligence space, the company's results and guidance could have a significant impact on the outlook for the markets.

A continued surge by treasury yields has also generated selling pressure, with the yield on the benchmark ten-year note spiking to its highest levels since January 2025.

Renewed worries about inflation have contributed to the increase in treasury yields amid concerns that global central banks will keep interest rates higher for longer.

"While the Nasdaq remains near highs and the broader AI trade is still intact, recent sessions have seen some profit-taking in semiconductors and mega-cap tech as yields rise and positioning looks increasingly stretched," said Daniela Hathorn, Senior Market Analyst at Capital.com.

She added, "The market is not abandoning the earnings and AI story but the combination of higher oil, higher yields and extremely strong positioning is making it harder for the sector to continue its near-vertical ascent without pauses or pullbacks."

In U.S. economic news, the National Association of Realtors released a report showing pending home sales in the U.S. jumped by more than expected in the month of April.

NAR said its pending home sales index shot up by 1.4 percent to 74.8 in April after surging by 1.7 percent to an upwardly revised 73.8 in March.

Economists had expected pending home sales to increase by 0.9 percent compared to the 1.5 percent leap originally reported for the previous month.

Sector News

Gold stocks have moved sharply lower amid a steep drop by the price of the precious metal, dragging the NYSE Arca Gold Bugs Index down by 4.1 percent to its lowest intraday level in well over a month.

Considerable weakness is also visible among computer hardware stocks, as reflected by the 3.1 percent slump by the NYSE Arca Computer Hardware Index.

Airline stocks have also shown a significant move to the downside, with the NYSE Arca Airline Index tumbling by 2.8 percent.

Networking, housing and semiconductor stocks are also seeing notable weakness, while pharmaceutical and healthcare stocks are bucking the downtrend.

Other Markets

In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Tuesday. Japan's Nikkei 225 Index fell by 0.4 percent, while China's Shanghai Composite Index advanced by 0.9 percent.

The major European markets have also turned mixed on the day. While the French CAC 40 Index is down by 0.1 percent, the U.K.'s FTSE 100 Index is just above the unchanged line and the German DAX Index is up by 0.4 percent.

In the bond market, treasuries have come under pressure over the course of the session. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 5.4 basis points at 4.677 percent.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.