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US stocks dip as Treasury yields rise and oil hits $87 amid geopolitical risks and housing softness.

Market News
23 Aug 2026
Seeking Alpha
View Source
Neutral
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US equity markets retreated from record highs due to rising long-term Treasury yields and ongoing fiscal concerns after the federal debt surpassed $40 trillion. Oil prices climbed nearly 5% to around $87 per barrel, driven by stalled Iran negotiations and reduced tanker traffic through the Strait of Hormuz, increasing geopolitical risks. Housing market data remained weak with low starts, pending sales, and builder sentiment, pressured by mortgage rates near 6.7%, highlighting a persistent housing shortage. Despite rate pressures, REITs showed resilience, with the Equity REIT Index down only 0.3% compared to the S&P 500's 1.4% drop, while major REIT mergers and portfolio adjustments continued to shape the sector.

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