U.S. equities sold off sharply Tuesday as semiconductor stocks plunged 5.5% and bond yields climbed to 19-month highs amid Middle East escalation. The S&P 500 fell 0.69%, Nasdaq dropped 1.33%, and crude oil topped $84 as the U.S.-Iran ceasefire formally expired without extension.
→ Major retail earnings this week: Walmart, Target, Home Depot; weak July retail sales (-0.6%) will add urgency to consumer health signals
→ Bond yield trajectory—10-year at 19-month highs, 30-year at 2007 levels; market pricing 67% probability Fed holds in September
→ Middle East conflict escalation and oil pricing; Trump's crypto meeting August 19 could shift sentiment as Bitcoin hovers $64K