Treasury yields plunge as investors flee tech stocks into safe-haven bonds
The 10-year Treasury yield fell 19.3 basis points to 4.952% as the Nasdaq dropped 2.6%, according to Dow Jones Newswires. Middle East, France and AI worries drove the move.
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what happened
According to Dow Jones Newswires, the 10-year Treasury yield dropped 19.3 basis points to 4.952%, its largest daily move since March 10, 2023. The two-year yield fell 18.8 basis points to 4.635%, its sharpest one-day decline since August 1, 2025.
The rush into government debt came as the Nasdaq slid 2.6%. Strategists point to several stressors at once: escalation in the Middle East, mounting problems in France and growing doubts about artificial intelligence. Robert Tipp of PGIM Credit said markets had priced in several more Fed rate hikes, a view that is now being questioned.
Tech gains this year remain large, with Sandisk up about 430% and Micron up 200% so far in 2026, according to FactSet.
why it matters
A bond move of this size is rare and usually signals panic, but Dustin Reid of Mackenzie Investments sees a rotation out of equities into Treasuries and fixed income tied to AI valuation concerns. For markets, this points to pressure on high-flying tech shares, support for the bond market and a possible repricing of Fed rate expectations.
market impact
US Treasuries: safe-haven demand pushes yields lower; tech stocks under pressure
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instruments
sources
- Treasury yields see extreme plunge. Why investors are ducking for cover. — Dow Jones Newswires, 22 October 2026 at 21:32 UTC
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