diff --git a/src/bun.js.zig b/src/bun.js.zig
index e17e20471f..337045915e 100644
--- a/src/bun.js.zig
+++ b/src/bun.js.zig
@@ -135,7 +135,7 @@ pub const Run = struct {
             null,
         );
         try bundle.runEnvLoader(false);
-        const mini = jsc.MiniEventLoop.initGlobal(bundle.env);
+        const mini = jsc.MiniEventLoop.initGlobal(bundle.env, null);
         mini.top_level_dir = ctx.args.absolute_working_dir orelse "";
         return bun.shell.Interpreter.initAndRunFromFile(ctx, mini, entry_path);
     }
diff --git a/src/bun.js/event_loop/MiniEventLoop.zig b/src/bun.js/event_loop/MiniEventLoop.zig
index bcca2bf428..db8723d6a2 100644
--- a/src/bun.js/event_loop/MiniEventLoop.zig
+++ b/src/bun.js/event_loop/MiniEventLoop.zig
@@ -40,7 +40,7 @@ pub threadlocal var global: *MiniEventLoop = undefined;
 
 pub const ConcurrentTaskQueue = UnboundedQueue(AnyTaskWithExtraContext, .next);
 
-pub fn initGlobal(env: ?*bun.DotEnv.Loader) *MiniEventLoop {
+pub fn initGlobal(env: ?*bun.DotEnv.Loader, cwd: ?[]const u8) *MiniEventLoop {
     if (globalInitialized) return global;
     const loop = MiniEventLoop.init(bun.default_allocator);
     global = bun.handleOom(bun.default_allocator.create(MiniEventLoop));
@@ -54,6 +54,22 @@ pub fn initGlobal(env: ?*bun.DotEnv.Loader) *MiniEventLoop {
         loader.* = bun.DotEnv.Loader.init(map, bun.default_allocator);
         break :env_loader loader;
     };
+
+    // Set top_level_dir from provided cwd or get current working directory
+    if (cwd) |dir| {
+        global.top_level_dir = dir;
+    } else if (global.top_level_dir.len == 0) {
+        var buf: bun.PathBuffer = undefined;
+        switch (bun.sys.getcwd(&buf)) {
+            .result => |p| {
+                global.top_level_dir = bun.default_allocator.dupe(u8, p) catch "";
+            },
+            .err => {
+                global.top_level_dir = "";
+            },
+        }
+    }
+
     globalInitialized = true;
     return global;
 }
diff --git a/src/cli/bunx_command.zig b/src/cli/bunx_command.zig
index e563d0bc73..f679eb59b1 100644
--- a/src/cli/bunx_command.zig
+++ b/src/cli/bunx_command.zig
@@ -756,7 +756,7 @@ pub const BunxCommand = struct {
             .stdin = .inherit,
 
             .windows = if (Environment.isWindows) .{
-                .loop = bun.jsc.EventLoopHandle.init(bun.jsc.MiniEventLoop.initGlobal(this_transpiler.env)),
+                .loop = bun.jsc.EventLoopHandle.init(bun.jsc.MiniEventLoop.initGlobal(this_transpiler.env, null)),
             },
         }) catch |err| {
             Output.prettyErrorln("<r><red>error<r>: bunx failed to install <b>{s}<r> due to error <b>{s}<r>", .{ install_param, @errorName(err) });
diff --git a/src/cli/create_command.zig b/src/cli/create_command.zig
index 2fdca20a9d..1bea76377b 100644
--- a/src/cli/create_command.zig
+++ b/src/cli/create_command.zig
@@ -109,7 +109,7 @@ fn execTask(allocator: std.mem.Allocator, task_: string, cwd: string, _: string,
         .stdin = .inherit,
 
         .windows = if (Environment.isWindows) .{
-            .loop = bun.jsc.EventLoopHandle.init(bun.jsc.MiniEventLoop.initGlobal(null)),
+            .loop = bun.jsc.EventLoopHandle.init(bun.jsc.MiniEventLoop.initGlobal(null, null)),
         },
     }) catch return;
 }
@@ -1487,7 +1487,7 @@ pub const CreateCommand = struct {
                 .stdin = .inherit,
 
                 .windows = if (Environment.isWindows) .{
-                    .loop = bun.jsc.EventLoopHandle.init(bun.jsc.MiniEventLoop.initGlobal(null)),
+                    .loop = bun.jsc.EventLoopHandle.init(bun.jsc.MiniEventLoop.initGlobal(null, null)),
                 },
             });
             _ = try process.unwrap();
diff --git a/src/cli/exec_command.zig b/src/cli/exec_command.zig
index 4d14fbe6dd..5bde215948 100644
--- a/src/cli/exec_command.zig
+++ b/src/cli/exec_command.zig
@@ -9,9 +9,7 @@ pub const ExecCommand = struct {
             null,
         );
         try bundle.runEnvLoader(false);
-        const mini = bun.jsc.MiniEventLoop.initGlobal(bundle.env);
         var buf: bun.PathBuffer = undefined;
-
         const cwd = switch (bun.sys.getcwd(&buf)) {
             .result => |p| p,
             .err => |e| {
@@ -19,6 +17,7 @@ pub const ExecCommand = struct {
                 Global.exit(1);
             },
         };
+        const mini = bun.jsc.MiniEventLoop.initGlobal(bundle.env, cwd);
         const parts: []const []const u8 = &[_][]const u8{
             cwd,
             "[eval]",
diff --git a/src/cli/filter_run.zig b/src/cli/filter_run.zig
index dbde2c4f6f..57d56a3d47 100644
--- a/src/cli/filter_run.zig
+++ b/src/cli/filter_run.zig
@@ -532,7 +532,7 @@ pub fn runScriptsWithFilter(ctx: Command.Context) !noreturn {
         Global.exit(1);
     }
 
-    const event_loop = bun.jsc.MiniEventLoop.initGlobal(this_transpiler.env);
+    const event_loop = bun.jsc.MiniEventLoop.initGlobal(this_transpiler.env, null);
     const shell_bin: [:0]const u8 = if (Environment.isPosix)
         RunCommand.findShell(this_transpiler.env.get("PATH") orelse "", fsinstance.top_level_dir) orelse return error.MissingShell
     else
diff --git a/src/cli/pm_version_command.zig b/src/cli/pm_version_command.zig
index 742fddb01f..21deb456cb 100644
--- a/src/cli/pm_version_command.zig
+++ b/src/cli/pm_version_command.zig
@@ -461,7 +461,7 @@ pub const PmVersionCommand = struct {
             .cwd = cwd,
             .envp = null,
             .windows = if (Environment.isWindows) .{
-                .loop = bun.jsc.EventLoopHandle.init(bun.jsc.MiniEventLoop.initGlobal(null)),
+                .loop = bun.jsc.EventLoopHandle.init(bun.jsc.MiniEventLoop.initGlobal(null, null)),
             },
         }) catch |err| {
             Output.errGeneric("Failed to spawn git process: {s}", .{@errorName(err)});
@@ -494,7 +494,7 @@ pub const PmVersionCommand = struct {
             .cwd = cwd,
             .envp = null,
             .windows = if (Environment.isWindows) .{
-                .loop = bun.jsc.EventLoopHandle.init(bun.jsc.MiniEventLoop.initGlobal(null)),
+                .loop = bun.jsc.EventLoopHandle.init(bun.jsc.MiniEventLoop.initGlobal(null, null)),
             },
         }) catch |err| {
             Output.err(err, "Failed to spawn git process", .{});
@@ -541,7 +541,7 @@ pub const PmVersionCommand = struct {
             .stdin = .ignore,
             .envp = null,
             .windows = if (Environment.isWindows) .{
-                .loop = bun.jsc.EventLoopHandle.init(bun.jsc.MiniEventLoop.initGlobal(null)),
+                .loop = bun.jsc.EventLoopHandle.init(bun.jsc.MiniEventLoop.initGlobal(null, null)),
             },
         }) catch |err| {
             Output.errGeneric("Git add failed: {s}", .{@errorName(err)});
@@ -575,7 +575,7 @@ pub const PmVersionCommand = struct {
             .stdin = .ignore,
             .envp = null,
             .windows = if (Environment.isWindows) .{
-                .loop = bun.jsc.EventLoopHandle.init(bun.jsc.MiniEventLoop.initGlobal(null)),
+                .loop = bun.jsc.EventLoopHandle.init(bun.jsc.MiniEventLoop.initGlobal(null, null)),
             },
         }) catch |err| {
             Output.errGeneric("Git commit failed: {s}", .{@errorName(err)});
@@ -606,7 +606,7 @@ pub const PmVersionCommand = struct {
             .stdin = .ignore,
             .envp = null,
             .windows = if (Environment.isWindows) .{
-                .loop = bun.jsc.EventLoopHandle.init(bun.jsc.MiniEventLoop.initGlobal(null)),
+                .loop = bun.jsc.EventLoopHandle.init(bun.jsc.MiniEventLoop.initGlobal(null, null)),
             },
         }) catch |err| {
             Output.errGeneric("Git tag failed: {s}", .{@errorName(err)});
diff --git a/src/cli/run_command.zig b/src/cli/run_command.zig
index 35d431e8ef..23fb3f5ff7 100644
--- a/src/cli/run_command.zig
+++ b/src/cli/run_command.zig
@@ -246,7 +246,7 @@ pub const RunCommand = struct {
         }
 
         if (!use_system_shell) {
-            const mini = bun.jsc.MiniEventLoop.initGlobal(env);
+            const mini = bun.jsc.MiniEventLoop.initGlobal(env, cwd);
             const code = bun.shell.Interpreter.initAndRunFromSource(ctx, mini, name, copy_script.items, cwd) catch |err| {
                 if (!silent) {
                     Output.prettyErrorln("<r><red>error<r>: Failed to run script <b>{s}<r> due to error <b>{s}<r>", .{ name, @errorName(err) });
@@ -294,7 +294,7 @@ pub const RunCommand = struct {
             .ipc = ipc_fd,
 
             .windows = if (Environment.isWindows) .{
-                .loop = jsc.EventLoopHandle.init(jsc.MiniEventLoop.initGlobal(env)),
+                .loop = jsc.EventLoopHandle.init(jsc.MiniEventLoop.initGlobal(env, null)),
             },
         }) catch |err| {
             if (!silent) {
@@ -467,7 +467,7 @@ pub const RunCommand = struct {
             .use_execve_on_macos = silent,
 
             .windows = if (Environment.isWindows) .{
-                .loop = jsc.EventLoopHandle.init(jsc.MiniEventLoop.initGlobal(env)),
+                .loop = jsc.EventLoopHandle.init(jsc.MiniEventLoop.initGlobal(env, null)),
             },
         }) catch |err| {
             bun.handleErrorReturnTrace(err, @errorReturnTrace());
diff --git a/src/cli/upgrade_command.zig b/src/cli/upgrade_command.zig
index 202888d377..a372098a8b 100644
--- a/src/cli/upgrade_command.zig
+++ b/src/cli/upgrade_command.zig
@@ -601,7 +601,7 @@ pub const UpgradeCommand = struct {
                         .stdin = .inherit,
 
                         .windows = if (Environment.isWindows) .{
-                            .loop = bun.jsc.EventLoopHandle.init(bun.jsc.MiniEventLoop.initGlobal(null)),
+                            .loop = bun.jsc.EventLoopHandle.init(bun.jsc.MiniEventLoop.initGlobal(null, null)),
                         },
                     }) catch |err| {
                         Output.prettyErrorln("<r><red>error:<r> Failed to spawn Expand-Archive on {s} due to error {s}", .{ tmpname, @errorName(err) });
diff --git a/src/create/SourceFileProjectGenerator.zig b/src/create/SourceFileProjectGenerator.zig
index 761204aa66..68c5af8636 100644
--- a/src/create/SourceFileProjectGenerator.zig
+++ b/src/create/SourceFileProjectGenerator.zig
@@ -248,7 +248,7 @@ pub fn generateFiles(allocator: std.mem.Allocator, entry_point: string, dependen
             .stdin = .inherit,
 
             .windows = if (Environment.isWindows) .{
-                .loop = bun.jsc.EventLoopHandle.init(bun.jsc.MiniEventLoop.initGlobal(null)),
+                .loop = bun.jsc.EventLoopHandle.init(bun.jsc.MiniEventLoop.initGlobal(null, null)),
             },
         }) catch |err| {
             Output.err(err, "failed to install dependencies", .{});
@@ -361,7 +361,7 @@ pub fn generateFiles(allocator: std.mem.Allocator, entry_point: string, dependen
         .stdin = .inherit,
 
         .windows = if (Environment.isWindows) .{
-            .loop = bun.jsc.EventLoopHandle.init(bun.jsc.MiniEventLoop.initGlobal(null)),
+            .loop = bun.jsc.EventLoopHandle.init(bun.jsc.MiniEventLoop.initGlobal(null, null)),
         },
     }) catch |err| {
         Output.err(err, "failed to start app", .{});
diff --git a/src/http/HTTPThread.zig b/src/http/HTTPThread.zig
index d6946798e8..23f0514621 100644
--- a/src/http/HTTPThread.zig
+++ b/src/http/HTTPThread.zig
@@ -198,7 +198,7 @@ pub fn onStart(opts: InitOpts) void {
     bun.http.default_arena = Arena.init();
     bun.http.default_allocator = bun.http.default_arena.allocator();
 
-    const loop = bun.jsc.MiniEventLoop.initGlobal(null);
+    const loop = bun.jsc.MiniEventLoop.initGlobal(null, null);
 
     if (Environment.isWindows) {
         _ = std.process.getenvW(comptime bun.strings.w("SystemRoot")) orelse {
diff --git a/src/open.zig b/src/open.zig
index a4249d6138..d2878e2e75 100644
--- a/src/open.zig
+++ b/src/open.zig
@@ -25,7 +25,7 @@ pub fn openURL(url: stringZ) void {
             .stdin = .inherit,
 
             .windows = if (Environment.isWindows) .{
-                .loop = bun.jsc.EventLoopHandle.init(bun.jsc.MiniEventLoop.initGlobal(null)),
+                .loop = bun.jsc.EventLoopHandle.init(bun.jsc.MiniEventLoop.initGlobal(null, null)),
             },
         }) catch break :maybe_fallback) {
             // don't fallback:
diff --git a/src/shell/IO.zig b/src/shell/IO.zig
index 556ed894ad..6be1a9d886 100644
--- a/src/shell/IO.zig
+++ b/src/shell/IO.zig
@@ -142,16 +142,14 @@ pub const OutKind = union(enum) {
                     .capture = .{
                         .buf = cap,
                     },
+                } else if (val.writer.fd.get()) |fd| .{
+                    // We have a valid fd that hasn't been moved to libuv
+                    .fd = fd,
                 } else .{
-                    // Windows notes:
-                    // Since `val.writer.fd` is `MovableFD`, it could
-                    // technically be moved to libuv for ownership.
-                    //
-                    // But since this file descriptor never going to be touched by this
-                    // process, except to hand off to the subprocess when we
-                    // spawn it, we don't really care if the file descriptor
-                    // ends up being invalid.
-                    .fd = val.writer.fd.get().?,
+                    // On Windows, the fd might have been moved to libuv
+                    // In this case, the subprocess should inherit the stdio
+                    // since libuv is already managing it
+                    .inherit = {},
                 };
             },
             .pipe => .pipe,
diff --git a/test/regression/issue/22650-shell-crash.test.ts b/test/regression/issue/22650-shell-crash.test.ts
new file mode 100644
index 0000000000..4feb8f1c71
--- /dev/null
+++ b/test/regression/issue/22650-shell-crash.test.ts
@@ -0,0 +1,24 @@
+import { expect, test } from "bun:test";
+import { bunEnv, bunExe } from "harness";
+
+test("issue #22650 - shell crash with && operator followed by external command", async () => {
+  // Minimal reproduction: echo && <external command>
+  // This triggers the crash because after the first command succeeds,
+  // the shell tries to spawn an external process but top_level_dir is not set
+  await using proc = Bun.spawn({
+    cmd: [bunExe(), "exec", "echo test && node --version"],
+    env: bunEnv,
+    stderr: "pipe",
+    stdout: "pipe",
+  });
+
+  const [stdout, stderr, exitCode] = await Promise.all([proc.stdout.text(), proc.stderr.text(), proc.exited]);
+
+  // Should not have any errors
+  expect(stderr).toBe("");
+
+  // Should execute both commands successfully
+  expect(stdout).toContain("test");
+  expect(stdout).toMatch(/v\d+\.\d+\.\d+/); // Node version pattern
+  expect(exitCode).toBe(0);
+});