Stock Market Midday, Sept. 23: Stocks Slip as Treasury Yields Hit 19-Year High
Today, Sept. 23, 2026, bond yields and geopolitical tensions weigh on U.S. indexes, while cybersecurity stocks rally.
At 11:45 AM ET on September 23, financial markets experienced a decline as Treasury yields reached a 19-year high, causing stocks to slip. The S&P 500 dropped 0.55% to 7,722, while the Nasdaq Composite fell 0.91% to 26,993, and the Dow Jones Industrial Average declined 0.54% to 51,582. The 10-Year Treasury yield surged 11 basis points to reach 5.08%, marking a 19-year high.
This rise in bond yields halted a recent tech-led rally across various sectors. Gold prices declined by 1.88% to $4,283.13. Except for energy stocks, all sectors experienced losses, with basic materials and consumer cyclicals suffering the most significant declines. KB Home, despite reporting a better-than-expected earnings report the day prior, saw a slight dip following its warning of an increasingly challenging housing market.
The average U.S. 30-year fixed-rate mortgage reached a two-year high of 7.12%. Cybersecurity firms, such as CrowdStrike and Palo Alto Networks, saw a surge in value as investors considered their potential role in ensuring artificial intelligence safety.
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