Tech Selloff Deepens as Flight Into Treasurys Drives Yields Lower -- WSJ
By Joe Wallace and Vicky Ge Huang
Tech stocks are leading losses Thursday, as another bout of jitters ripples through global markets.
Many of the biggest names in artificial intelligence are down, including SpaceX, chip heavyweights Nvidia and Intel and data-center provider CoreWeave.
Treasury yields fell sharply as investors bought safe assets. The benchmark 10-year yield dropped below 5% for the first time in nearly a month.
On the earnings front, investors were disappointed by Meta Platforms' projection this morning of additional billions of dollars in future spending commitments. Shares dropped more than 7%.
The moves are the latest to punctuate the tech-driven rally in U.S. stocks. Also adding to the angst: another jump in oil prices, driven by fresh strikes on Saudi Arabia and U.S.-Israeli plans for renewed attacks on Iran.
In Europe, a French debt crisis has pushed the country's borrowing costs to multidecade highs. French bond yields continue to tick up, making them an outlier in today's bond markets. European and Asian stock markets were lower on the day.
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(END) Dow Jones Newswires
October 22, 2026 14:27 ET (18:27 GMT)
