Asian stocks slide as tech rout lifts bonds and trims Fed rate hike bets
According to Reuters, a tech selloff pushed Asian indexes lower while US Treasuries posted their biggest daily rally in over three years.
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what happened
Asian shares fell on Friday as concerns about the heavy funding needs of AI weighed on technology stocks. Investors shifted into sovereign bonds and safe-haven currencies, and US Treasuries recorded their largest daily rally in more than three years, Reuters reported.
Markets also sharply reduced expectations for further Federal Reserve tightening, with the implied probability of a December rate hike falling to 85%. Brent crude, meanwhile, hit a five-month high of $114 a barrel after Houthi attacks in Saudi Arabia.
why it matters
The drop in yields and the repricing of Fed expectations reflect fears that a deflating AI bubble could hit data-centre investment and slow the US economy. For markets, this signals stronger demand for defensive assets and a shift in sentiment across technology stocks.
market impact
US Treasuries and safe-haven currencies: demand rises, yields fall; tech shares under pressure
tags
instruments
sources
- Asian shares wobble as tech rout boosts bonds, dents rate hike bets — Reuters, 23 October 2026 at 01:47 UTC
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