Stock Market Midday, Sept. 23: Stocks Slip as Treasury Yields Hit 19-Year High

As of 11:45 AM ET, the S&P 500 (SNPINDEX:^GSPC) is down 0.55% to 7,722, the Nasdaq Composite (NASDAQINDEX:^IXIC) is down 0.91% to 26,993, and the Dow Jones Industrial Average (DJINDICES:^DJI) has slipped 0.54% to 51,582 as a spike in bond yields halts a recent tech-led rally. Gold is trading down 1.88% to $4,283.13, and the 10-Year Treasury yield is up 11 basis points to 5.08% -- a 19-year high. All sectors apart from energy stocks are down, with basic materials and consumer cyclicals falling the most. Today's biggest moves KB Home shares slipped slightly despite an earnings beat yesterday after it warned of increasingly difficult housing market conditions. The average U.S. 30-year fixed-rate mortgage just reached 7.