For Wednesday, August 19th, 2026
>>Stocks Close Lower As Chip Sector Sells Off
(New York, NY) -- Wall Street closed in the red Tuesday for the third straight session. Surging bond yields and higher oil prices renewed inflation fears as hopes continued to fade for an end to the Middle East conflict. Chip stocks slid broadly with Western Digital, Sandisk and Seagate Technology all down about seven percent or more. At the closing bell, the Dow Jones Industrial Average lost 116 points to 53-343. The S&P 500 fell 53 points to 76-91. The Nasdaq dropped 355 points to 26-289.
>>Trump Pauses Canada Tariffs
(Washington, DC) -- President Trump is pausing a planned wave of tariffs that was set to hit Canada overnight. In a social media post, Trump said he had paused the 50-percent duties for three days because the two countries "have a deal," pending final documentation. He offered no specifics about the agreement, aside from suggesting the Keystone XL pipeline "may be awoken from the grave." Prime Minister Mark Carney said progress has been made but there's still work to be done. The suspended tariffs would have affected roughly 20-billion dollars in Canadian imports, including hockey sticks, certain building materials, liquors, and some apparel, according to the U.S. Trade Representative.
>>Social Media Addiction Trial Against Meta Underway
(Oakland, CA) -- The landmark trial against Meta is underway inside an Oakland, California federal courthouse. Colorado, Kentucky, New Jersey and California are seeking one-point-four-trillion-dollars in damages, alleging the company engineered Facebook and Instagram to make it addictive to children. In her opening statement Tuesday, California Deputy Attorney General Megan O'Neill said says Meta told Congress and parents that Instagram and Facebook were safe for kids, while "all the while it hid the truth." Meta CEO Mark Zuckerberg will testify in the trial.
>>Pending Home Sales Fell 2.3% In July
(Washington, DC) -- Pending home sales fell more than expected in July. The National Association of Realtors says the number of homes under contract for sale dropped to its lowest level since January 2026. The group's chief economist says the highest mortgage rates of the year hit in the middle of summer putting a damper on contract signings. He also noted home prices are at record highs so houses are sitting on the market longer. Pending home sales decreased two-point-three percent in July and two-point-two percent on a yearly basis.
>>Mississippi Tops Nation for All-Cash Home Buying
(Jackson, MS) -- Mississippi leads the nation in all-cash home purchases. A Realtor-dot-com report released Tuesday shows cash accounted for 47-percent of home sales across the state this year, compared to 31-percent nationwide. While that share dipped two percentage points from last year, Mississippi still tops the country. Realtor-dot-com points to the state's lower home prices and fewer financing options in rural areas, with a median sale price of 271-thousand dollars.
>>Disney, ABC Sue FCC
(Washington, DC) -- Disney is suing the FCC, accusing the Trump administration of waging a "retaliatory campaign" against ABC through the agency. The lawsuit is looking to stop the FCC from moving forward with early broadcast renewal proceedings for several ABC stations. The early renewal process started not long after President Trump criticized the network over a joke late night host Jimmy Kimmel told about First Lady Melania Trump. A social media post from Trump complaining about Kimmel and asking if broadcast licenses should be terminated is cited in the lawsuit. The FCC cited concerns about Disney's diversity, equity and inclusion practices as a reason for the early renewal process.
