Asia tech selloff eases as oil climbs to five-month high
Tech share losses slow in Asia while Brent hits $114.10 a barrel and US Treasury yields fall back below 5%, according to Reuters.
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what happened
Reuters reports that the global tech selloff lost some momentum in Asia on Friday. Worries about the huge funding needs of artificial intelligence had hit Wall Street, pushing Treasuries to their biggest daily rally in more than three years.
Brent rose 0.9% to a fresh five-month high of $114.10 a barrel as concern grew that the Middle East conflict could widen. The contract was on track for a 3.9% weekly gain after Houthi attacks in Saudi Arabia. The 10-year US yield fell back below 5%, to 4.9676%, and traders trimmed bets on Federal Reserve tightening, with a December hike now priced at 85%. Gold was flat at $4,021.99 an ounce after a near 3% drop overnight.
why it matters
Two forces drive the moves: safe-haven demand pulled yields lower, while higher oil keeps inflation risks alive. If Middle East tensions escalate, energy could outweigh equity sentiment. The report offers no basis for price forecasts.
market impact
Oil and US tech: Middle East supply risk lifts Brent, AI-linked shares face pressure from funding worries.
tags
instruments
sources
- Tech selloff slows in Asia, oil hits five-month high — Reuters, 23 October 2026 at 06:27 UTC
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