US stocks fall on spiking bond yields, higher oil prices

A general view shows the New York Stock Exchange, Friday, Aug 7, 2026, in New York. (Photo: AP/Yuki Iwamura) 18 Aug 2026 05:51AM NEW YORK: Wall Street stocks retreated Monday (Aug 17) as oil prices advanced on the lack of progress on opening the Strait of Hormuz and a jump in US Treasury yields discouraged equity purchases.Oil prices added to their recent gains as the United States and Iran showed no signs of reaching a deal to reopen the Strait of Hormuz after nearly six months of war, even though Monday was in theory the day a US-Iran ceasefire expires.On Monday, US President Donald Trump threatened to bomb Oman if it got in the way of a US-Iran deal."The ongoing diplomatic gridlock between Washington and Tehran over transit through the Strait of Hormuz has kept crude prices elevated," s