Public Markets 24-Hour Briefing – Oct 22, 2026

238 articles summarized · Last updated: October 22, 2026 at 10:40 PM ET v2085

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Last updated: October 22, 2026, 10:40 PM ET

Global Equities & Tech Selloff

Technology stocks sold off sharply as investors grew more concerned about soaring AI spending, and the Nasdaq tumbled as Meta's $124bn market-value loss rippled through the sector. The Nasdaq fell 2.6% while Treasury yields posted their biggest drop in months. In Asia, Korean stocks dropped on chip losses, and the Nikkei fell 2.2% as chip and bank shares weighed on the index. China's AI model stocks have now shed roughly $150 billion with no sign of easing.

Treasuries surged for their best day in more than two years as a worldwide rush to safety took hold, pushing the 10-year yield below 5%. Japanese government bond yields fell across the curve on Friday. French debt stress intensified, with spreads widening to a 15-year high and foreign investors heading for the exit. Europe's economy faces the same pressure, as the region cannot simply hope for lower borrowing costs across the Atlantic. Traders' hedging costs against further Treasury gains surged to their highest level in a while.

Oil prices rose more than 2% as Brent climbed above $111 a barrel amid attacks on Saudi Arabia and persistent U.S.-Iran risk, with Brent heading for a third weekly gain. Gold held near a three-month low as investors sold, while silver futures fell 4.6% to their lowest this year. Qatar agreed to buy US LNG through 2054 as the war upends supply, and Germany's gas use hit a nine-month high. Copper slid as LME inventories surged.

Iran threatened wider strikes on economic and civilian targets should the U.S. attack. Washington proposed tighter rules on investments in sensitive Chinese technology, and Japan's inflation rose above the Bank of Japan's target, backing rate hikes.

Western Digital posted a fiscal first-quarter profit of $1.78 billion on storage demand. Moderna shares sank after leaked cancer-vaccine data missed expectations. Barclays will cut 5,000 jobs as profits fell short of City expectations. Blackstone profit dropped 9.2% as higher rates curbed dealmaking. Deckers cut its sales outlook, and American Airlines forecast another quarterly loss on surging fuel costs. Zip shares slid 50% after flagging costs tied to a U.S. fraud event. Rio Tinto will spend $1.9 billion on Australian bauxite expansion. Lockheed Martin raised its outlook as its backlog hit a record. Hermès sales growth slowed, and Kering sales declined 1% amid a luxury downturn. OpenAI trimmed its valuation target to $1.25tn.

The U.S. midterm elections are less than a month away, and Wall Street is bracing for their market impact. Trump must sit for a deposition in the BBC lawsuit by December 11. The Bank of England's rate path beyond November remains clouded by energy uncertainty.