GoKawiilTreasury yields post biggest one-day drop since 2023 as tech sell-off spurs haven rush
A sharp selloff in technology stocks, led by Meta and chipmakers, pushed the Nasdaq to its worst day since June and sent investors into safe-haven assets. The 10-year U.S. Treasury yield fell below 5% for the first time in a month in its steepest one-day decline since March 2023, while Japanese government bonds and the yen also rallied on haven demand. Separately, Volvo Car shares fell as much as 30% in Stockholm after reporting a quarterly loss tied to weak U.S. and Chinese sales.
GoKawiil's interpretation of the reporting above, not reported fact.
Market participants told CNBC this marks one of the first times in a while that Treasurys are being treated as a genuine safe haven, with concerns reportedly centered on AI-related bond issuance, suggesting investors are growing wary of how tech expansion is being financed. Rising Japanese inflation could also push the Bank of Japan toward another rate hike, which may add further pressure on global yields and currency markets. Volvo's sharp drop underscores how geopolitical and demand pressures in major auto markets are weighing on European manufacturers.
- Tech stock selloff drove the Nasdaq's worst day since June, led by Meta and chipmakers.
- 10-year Treasury yield saw its biggest one-day fall since March 2023, dropping below 5%.
- Volvo Car shares plunged up to 30% after a quarterly loss blamed on weak U.S. and China sales.
Source: cnbc.com — Leonie Kidd, 2026-10-23
Published there as: “Safe haven search is on Friday as investors keep rotating”
Read the original report → The summary and analysis above are GoKawiil's own, written from reporting by the source above. Facts and quotes belong to the original publisher.