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October 23, 2026

Friday, October 23, 2026: Volvo Cars Q3 2026: Shares Plunge 25% on SEK 5.6B Loss

The Daily Briefing · Friday, October 23, 2026
Volvo Cars Q3 2026: Shares Plunge 25% on SEK 5.6B Loss
Volvo Cars Q3 2026: Shares Plunge 25% on SEK 5.6B Loss
Volvo Cars shares fell about 25% after a SEK 5.6 billion Q3 2026 operating loss, 2,500 job cuts, a near, halving of China revenue and US tariff pressure.
Read the full story →
Also today
Kalshi Faces Utah Suit, Washington Block, CFTC Oil Push
Kalshi Faces Utah Suit, Washington Block, CFTC Oil Push
Kalshi faces a Utah gambling suit, a Washington court block and a CME, backed bid to stop its perpetual oil contract, testing CFTC authority over state law.
Nasdaq drops 2.6% as AI spending fears hit megacaps
Nasdaq drops 2.6% as AI spending fears hit megacaps
The Nasdaq fell 2.6% on Thursday, its worst day since June, as AI spending fears and an oil spike hit Amazon, Nvidia and Alphabet while Apple gained.
10, Year Treasury Yield Drops to 4.95% on AI Fears
10, Year Treasury Yield Drops to 4.95% on AI Fears
The 10, year Treasury yield fell 19 basis points to 4.95% on Thursday, its biggest one, day drop since March 2023, as a tech selloff sent investors into government bonds.
Brent Crude Hits $113 as Iran Strike Plans Surface
Brent Crude Hits $113 as Iran Strike Plans Surface
Brent crude jumped 4% to $113.17, its highest close since May, as the US and Israel were reported to plan fresh Iran strikes after the midterm elections.
More headlines
Russia Ready to Resume Ukraine Peace Talks After Nov. 10
Moscow has agreed in principle to restart trilateral Ukraine peace talks with Washington and Kyiv on or after November 10, with Abu Dhabi the proposed venue.
Carney: Trump's 50% Tariffs Raise US Family Costs
Canada's Carney says Trump's 50% tariffs raised costs for American families, as Ottawa and Ontario unveil nearly C$9 billion in support for steel and autos.
Capital One Q3 2026: EPS $6.69 Beats, Shares Rise 4%
Capital One (COF) rose about 4% after hours on Tuesday after adjusted third, quarter earnings of $6.69 per share beat estimates and management said Discover deal benefits are now visible.
Nasdaq heads for worst week since June on AI debt, oil
The Nasdaq is on track for its worst week since late June, down about 4.5%, as AI financing worries and Brent crude near $110 pressured tech and chip stocks.
Nvidia, Tesla Samsung Deal Hits AI Stocks on Funding Fears
A reported $2.8 billion Nvidia and Tesla investment in Samsung Electro, Mechanics revived circular financing fears and hit AI stocks on Thursday, October 22.
Strait of Hormuz: 7 Tankers Hit, Brent Tops $112
Iranian state TV says seven tankers were hit in the Strait of Hormuz overnight, the most in a day since the war began, as Brent crude rose to near $112 a barrel.
Tesla Q3 2026: EPS Beat, $20B Capex Cut, Shares Slip
Tesla (TSLA) beat Q3 2026 estimates with $0.48 EPS on $28.05B revenue, yet shares slipped about 2% after hours as Tesla cut 2026 capex to roughly $20 billion.
Market briefs
Kering Stock Falls 12% After Gucci Sales Drop 6% in Q3
Kering (KER.PA) fell as Gucci store sales slid 9% on weak China and Japan traffic, testing de Meo's turnaround
KER.PA · PPRUY · 6 sources
Meta Stock Falls 7% After New Share Class Plan
Meta (META) closed at $648.85 as AI spending turned cash flow negative and Nvidia warned of tight funding
META · NVDA · AMZN · MSFT · 6 sources
Western Digital Stock Falls 6% as AI Stock Selloff Hits Chips
Western Digital (WDC) reported record $4.38B sales and a $1.78B profit, but AI, linked shares kept sliding
WDC:NASDAQ · STX:NASDAQ · SNDK:NASDAQ · MU:NASDAQ · 5 sources
RingCentral Stock Jumps 15% After Earnings Beat
RingCentral (RNG) says AI products now top $400M in yearly recurring revenue as it lifts its 2026 forecast
RNG · 6 sources
From the startup desk
DeepSeek $15B Round at $75B Valuation: Who's Backing It
DeepSeek is reportedly raising about $15B at roughly a $75B pre-money valuation. The round isn't closed, and CATL, Tencent, Meituan and Geely are among the reported investors.
Warp Sciences Raises $215M for US AI Chemistry Lab
Warp Sciences, founded by ex-OpenAI product chief Kevin Weil, emerged from stealth with $215M led by Lightspeed. It is building an AI- and robotics-driven US chemistry lab for drug research, work now often outsourced to China.
Beyond Vision Raises €28M+ for Drone Output in 2026
Beyond Vision, a Portuguese drone maker, raised €28M+ to scale production and expand globally.
Video of the day
April 2026 AI Arms Race
April 2026 AI Arms Race
The Daily Briefing from Pomegra. Market news, educational content only. Nothing here is investment advice.
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