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Hello, this is Leonie Kidd from today’s Morning Squawk.
This week has been a whirlwind for investors.
However, a sharp decline in key levels across the stock and bond markets could signal a larger shift to safe-haven assets.
Here are five important things investors need to know to start their trading day.
What’s happening now: Head to the evacuation center
It’s been a whiplash week for technology stocks, but Thursday’s plunge spooked investors into safe havens.
The Nasdaq posted its worst day since June due to a sharp decline across the tech industry, led by the meta and chip sectors.
Traders work on the floor of the New York Stock Exchange during morning trading on October 21, 2026 in New York City.
Michael M. Santiago | Getty Images
This caused the yield on the 10-year U.S. Treasury note to drop by the most on a single day since March 2023, dropping below 5% for the first time in a month.
Analysis: Market participants told CNBC that it has been a long time since U.S. Treasuries were considered a safe-haven asset, citing concerns about AI-related bond issuance.
10 year US Treasury yield
Notes about Japan
The market trend extends to Asia, with Japanese government bonds and the yen soaring on demand for safe-haven assets.
Why it matters: Economic red flags are still flashing. Japan’s core inflation rate has reached its highest level this year, and the Bank of Japan may consider raising interest rates further.
Big moves: Stockholm, Seoul, San Francisco
Shares in Volvo Cars fell as much as 30% in Stockholm after the Swedish carmaker said weakness in both the US and Chinese markets led to a quarterly loss.
Referring to the worst quarter, CEO Håkan Samuelsson told Squawk Box Europe: “Selling a world-class car developed in Europe in China does not work.”
korean stocks SK Hynix Shares sharply rebounded during Asian trading after the chipmaker called off IPO plans for its U.S. unit Solidigm.
Josh Gilbert, an analyst at eToro, told CNBC that it removes the risk factor associated with the stock and preserves the division’s value within the company.
apple could bounce back from the defeat of tech stocks and put them on track to end the week on a strong note. This comes after the stock hit new highs during trading on Thursday.
The stock could rise further today as first-day sales of the $2,000 iPhone Duo begin around the world.
CNBC’s Mackenzie Sigalos is at Apple’s Fifth Avenue flagship store and follows the line. Learn why Duo is already on sale for just $800.
People line up outside the Apple Store to buy the new Apple iPhone Duo, Apple’s first foldable phone, on October 23, 2026 in Sydney, Australia.
Holly Adams | Reuters
Scoop: Evaluation status
CNBC has learned that OpenAI is close to finalizing a funding round that could exceed $30 billion. The AI giant is valued at $1.25 trillion.
Investors from the United Arab Emirates are leading the round, which is seen as an “opportunistic” bridge to a potential IPO, CNBC’s Kate Rooney and Ashley Caputo told sources.
Why it matters: The Financial Times reports that the valuation is an even bigger discount from the most recent $1.4 trillion price tag some investors were looking at.
OpenAI CEO Sam Altman delivers a keynote speech at the OpenAI Developer Conference at Fort Mason on September 29, 2026 in San Francisco, California.
Heather Deal | Getty Images
Development Story: Starlink Restoration
President Donald Trump has asked Elon Musk to restore a full military-grade version of SpaceX’s Starlink system for use in Ukraine. The Wall Street Journal reported this, citing a US official.
Overnight local reports from Kiev suggested the move had immediate operational implications.
Why it matters: Ukraine’s move to restrict access to Starlink has sparked widespread bipartisan criticism. With a week and a half left until the midterm elections, Russia remains a key theme in the campaign.
“I regret some of my posts about President @realDonaldTrump last week. They went too far,” Elon Musk said on social media platform X.
Alex Roblewski AFP | Getty Images
And finally…
Wealthy Chinese are moving money to American banks
Wealthy Chinese, spooked by Beijing’s expansion of overseas wealth, are turning to the United States, a once-familiar haven for their money.
Private bankers and lawyers who work with Chinese clients say inquiries about opening U.S. bank accounts have increased in the months since Beijing imposed a retroactive tax on offshore assets in July, moving assets previously held in Singapore and Hong Kong out of Beijing’s reach.
—CNBC’s Fred Imbert, Lim Hui Yie, Kate Rooney, Ashley Capoot and Anniek Bao contributed to this report.
John Meloy edited this version.
