What Happened Today, Tuesday August 18, 2026, 5:00 PM ET close
Rising Bond Yields and Mideast Tension Sink Tech, Nasdaq 100 Falls 1.78%
Technology stocks led the whole market lower as climbing bond yields and headlines out of the Strait of Hormuz kept buyers on the sidelines.
ES and NQ at the close
NQ, Nasdaq 100 futures
29,559.50
-1.78% on the day
Day range 29,514.00 to 30,121.25
ES, S&P 500 futures
7,713.25
-0.71% on the day
Day range 7,710.25 to 7,770.50
How did our Futures Trading Algo Do Today?
Trades
7
ES/NQ/RTY/BTC ยท live + forward-test
Result
-$30.26
net for the day
Discipline
A small red day that stayed small, because no single loss was allowed to run away.
The book took seven trades for a net loss of $30.26, three winners against four losers. The best result came from MZ_NQ_all_5m, a long that booked +$275, and MZ_RTY_asia_kz_5m added another +$31, but those gains were nearly erased by SH_OU_NQ_Asia_5m_a, a long that gave back $237, plus paper losses on the two BTC sleeves. Winners and losers roughly canceled, which is what you want on a choppy, risk-off session.
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SPY and QQQ
The story
Technology stocks did the heavy lifting to the downside on Tuesday, dragging the whole market lower as US government bond yields surged and traders reached for safety. The Nasdaq 100 fell 1.78% and closed near the low of its range at 29,559.5 after trading as high as 30,121.25 earlier in the day. The broader S&P 500 was more resilient, easing 0.71% to 7,713.25, a sign the selling was concentrated in the growth and tech names most sensitive to rising rates. Headlines about the Strait of Hormuz staying shut and no planned talks between Washington and Tehran added a layer of caution that kept buyers patient.
The MAG7 and the megacaps
The largest technology names were at the center of Tuesday's decline, and that is the simplest explanation for why the Nasdaq 100 fell more than twice as much as the S&P 500 in percentage terms. When bond yields climb, investors tend to mark down the richly valued growth companies first, and that pattern played out cleanly today. The mega-cap group carries so much weight in the indexes that when it leads lower, the headline numbers follow.
After the bell
Bond Yields Surge at an Awkward Moment
Climbing US government bond yields were the main pressure on stocks Tuesday. Higher yields make future profits from fast-growing companies worth less today, so tech felt the squeeze first and hardest, and that is why the Nasdaq 100 led the market lower.
Tech Selloff Pulls Wall Street to Two-Week Lows
A broad retreat in technology shares pushed the major indexes toward their lowest levels in two weeks. The 1.78% drop in the Nasdaq 100 against a 0.71% dip in the S&P 500 shows how concentrated the weakness was in the growth corner of the market.
Strait of Hormuz Stays Shut
Iran signaled the Strait of Hormuz would remain closed until the US meets interim deal conditions, and reports said two earlier-detected missiles were launched from Iran. Geopolitical uncertainty like this tends to keep buyers cautious and adds a risk premium that weighs on stocks.
No US-Iran Talks Planned
President Trump said no talks are currently planned with Iran, while Tehran reaffirmed the strait remains shut. The absence of a clear diplomatic path kept the geopolitical risk elevated and reinforced the day's defensive mood.
Crypto
Bitcoin was a pocket of calm on an otherwise jittery day, finishing essentially flat with a 0.11% gain at $64,579.85. It traded in a tight band between $64,003.79 and $64,945.33, showing little of the stress that hit stocks. On days when equities sell off on rate fears, a steady crypto tape can be a small reminder that not every risk asset moves in lockstep.
Into the night
The tone was set before the US open, with the dollar described as range-bound as markets leaned toward a dovish Fed response, while surging Treasury yields did the real damage to sentiment. Middle East headlines stayed front and center overnight, including reports that two missiles detected earlier were launched from Iran and that the Strait of Hormuz would remain shut until interim deal conditions are met. With President Trump saying no talks are planned with Iran, traders came in defensive and that caution carried through the session.
What is coming next
Nasdaq 100 close
29,559.5
Down 1.78%, finished near the session low of 29,514
S&P 500 close
7,713.25
Down 0.71%, held up far better than tech
Bitcoin
$64,579.85
Flat at plus 0.11%, quiet range near $64K
Watch item
Bond yields
The direction of yields is the key swing factor for tech
The read into the next session is simple: keep an eye on bond yields, because they were the engine behind Tuesday's tech-led decline. If yields stabilize, the growth names that got hit hardest have room to steady, and if they keep climbing, the pressure can continue. Middle East headlines around the Strait of Hormuz remain a wild card that can shift the mood quickly, so patience and a clear plan matter more than usual.
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Educational market recap, not financial advice. Futures and options trading carry substantial risk of loss. Prices reflect the 2026-08-18 session close; charts are live and interactive. Always verify before acting.