See the full story in the original article.
Read the original on economictimes.indiatimes.com ↗
Keywords
Open a keyword to see other news on the same topic.
Related tickers and likely impact
EUR/USD
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/19/2026 | 1.12125 |
| Change that session | -0.24% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- European stocks buckle as French yields cross 5% barrier
European equities fell on Thursday as a relentless sell-off in French sovereign debt pushed the 10-year French yield above 5%, a level last seen during the 2002 sovereign market cycle. The STOXX 600 traded 0.8% lower, with France's CAC 40 down more than 1% and Italy's FTSE MIB slipping 0.1%, while Athens' General Index rose 1% despite nationwide civil disruptions. Investors worry that limited political progress on spending cuts for France's 5.4% GDP deficit, after last weekend's violent riots and fresh protests, could lead to a prolonged structural stalemate. Italian BTP yields avoided the sharp penalty hitting French OATs. Tech stocks also fell: Meta beat third-quarter revenue expectations, but its new nonvoting share class revived dilution fears, while ASML, ASM International, Infineon and Soitec dropped between 3% and 5% and BESI slipped 3% despite a new buyback.
- European stocks close higher , but French yields hit their highest since 2002
- France turmoil branded 'wake up call' over debt - as French borrowing costs hit 24-year high and Carrefour plunges
Deutsche Bank CEO Christian Sewing called turmoil in France a 'wake up call' for all debt-laden countries, though he said it is not yet a debt crisis. Yields on 10-year French bonds rose above 5% for the first time since 2002, reaching 5.02% from 4.92% earlier in the day and 4.78% at the end of last week, while the spread over German bonds widened to levels last seen in 2011. Riots and looting over public services and the cost of living pushed Carrefour shares down as much as 15% after it warned the disorder could cut up to £170m from profits. Sewing said he feared the instability could last until next year's presidential election. Meanwhile, UK national debt surpassed £3 trillion for the first time, while the pound rose to €1.945, a 17-month high.
- Opinie | How to lose money betting against Europe
The article argues that betting against European sovereign debt can lose money even for investors who understand the politics. The gap between 10-year French and German bond yields reached 1.6 percentage points in early October, the widest since 2011, but the French sell-off has so far been orderly. It recalls that John Paulson's funds booked double-digit losses in 2012 after he bet on a break-up that did not happen once Mario Draghi pledged to do 'whatever it takes', and that MF Global collapsed on bets on European debt. It notes that France's 2027 presidential election could still test markets, and cites Alan Howard's view that the euro crisis outcome was a political decision his firm had no edge in understanding.
- France Protests Cause Stocks , Bonds , Currency to Plunge : 4 Charts
Stocks, bonds and the euro have come under pressure across Europe as cost-of-living protests in France, which turned violent, spread to other parts of the continent. The CAC 40 is down 10% from its August peak and the EURO STOXX 50 is down 7%, while the 10-year French OAT yield jumped 66 basis points to 4.98%, a 24-year high. The euro fell to $1.12, down 6% from its January peak against the dollar, as money moved away from France amid political instability. Capital Economics says French spreads could rise by as much as 200 basis points, while Pantheon Macroeconomics calls France a “problem child” with weak growth, high debt and difficult fiscal reform. Separately, South Korean AI firm Elice fell 32% on its first trading day, and the risk-off move spread to US chips, with Micron and Sandisk each down 3%.
- European stocks extend slide as French unrest triggers de - risking | Hellenic Shipping News Worldwide
European shares fell as the pan-European Stoxx 600 dropped 0.3%, with investors trimming exposure to European equities and sovereign debt after severe unrest across France, where nighttime curfews were imposed in major cities including Paris and Nice. French sovereign debt suffered its worst daily sell-off in nearly a month on Monday, widening its CDS premium over German Bunds. Markets are awaiting SpaceX and Meta earnings this week for guidance on AI capital expenditure, following last week's tech sell-off over concerns about debt financing and return on AI investment. ABB fell 4.7% despite third-quarter results in line with forecasts, while Brent crude hovered near five-month highs after Yemen's Houthi movement confirmed drone and missile strikes on Saudi infrastructure, including an Aramco facility in Yanbu. The attacks heightened concerns over seaborne oil and LNG supply.
Related markets
Latest news
- Investors are punishing Big Tech's biggest spenders. Meta is the latest casualty.
Meta shares fell more than 7% on Thursday, wiping out about $125 billion in market value and erasing the stock's gain for the year. It was on track for its third straight drop of 5% or more the day after earnings, a first since its 2012 IPO. Revenue rose 26% to $64.6 billion, but Meta raised its full-year expense outlook, narrowed capital spending to $135–145 billion, and unveiled nonvoting shares it can sell to raise money. Analyst Gil Luria of D.A. Davidson said Zuckerberg will need to raise both debt and equity, while the cost of insuring Meta's debt climbed to its highest in months. Luria also said Meta is gaining share from Google and its ad sales are growing strongly; the stock has traded roughly between $500 and $800 since mid-2024, and a weekly close above $800 would signal a breakout while a close below $500 would open the door to a deeper slide.
- Oil Climbs Above $111 as AI Stocks Slide, Dragging the S&P 500 and Global Markets With Them
Brent crude rose 2.6% to $111.66 a barrel, its highest in five months, as AI-linked stocks slid and pulled the Nasdaq down 1.5% and the S&P 500 down 0.8% by mid-morning in New York. Asian markets also fell sharply, with South Korea's Kospi down 3.52%, Japan's Nikkei 225 down 2.65% and Hong Kong's Hang Seng down 3.03%, while China's CSI 300 entered a bear market. Nvidia fell 2.3% and Meta dropped 5.8% after its profit missed forecasts. The 10-year Treasury yield rose to 5.03% from 3.97% before the Iran war, ahead of the Fed's Oct. 28 decision. Citadel founder Ken Griffin said investors are 'almost certainly' in an AI bubble, though he did not tell them to sell.
- Oil Climbs Above $111 as AI Stocks Slide, Dragging the S&P 500 and Global Markets With Them
Brent crude rose 2.6% to $111.66 a barrel, its highest in five months, as AI-linked stocks slid and pulled the Nasdaq down 1.5% and the S&P 500 down 0.8% by mid-morning in New York. Asian markets also fell sharply, with South Korea's Kospi down 3.52%, Japan's Nikkei 225 down 2.65% and Hong Kong's Hang Seng down 3.03%, while China's CSI 300 entered a bear market. Nvidia fell 2.3% and Meta dropped 5.8% after its profit missed forecasts. The 10-year Treasury yield rose to 5.03% from 3.97% before the Iran war, ahead of the Fed's Oct. 28 decision. Citadel founder Ken Griffin said investors are 'almost certainly' in an AI bubble, though he did not tell them to sell.
- We're dipping back into the AI trade with our first data center buy in weeks
Jim Cramer's Charitable Trust is buying 10 shares of GE Vernova (GEV) at about 818 USD, lifting its weighting to about 2.15% from 1.9%, its first data center-related purchase since a Micron buy five weeks ago. The trust is buying into a Thursday sell-off driven by investor concern over how to fund the data center buildout, as cash flows are used up and debt financing grows less attractive, rather than weaker AI demand. GE Vernova was the third-worst S&P 500 performer that day and trades about 12% below its Aug. 24 level, when the trust downgraded it to a 2 amid caution on AI stocks; it has now been upgraded to a 1 to play for a bounce.
- Could Intel be the next trillion-dollar company?
Maverick Capital reportedly expects Intel to become a trillion-dollar company again, citing growing demand for CPUs used in AI inference. One speaker argues the story is compelling, pointing to huge chip demand, Intel's domestic chip production and strong government support, and notes the stock, though pulled back, sits right on its 200-day trend line. The others say they sold Intel long ago or never owned it, preferring holdings such as Nvidia, Broadcom and AMD. They describe a five- to seven-year wait that carried a large opportunity cost.
- Underdog taps zerohash to bring crypto deposits to prediction markets
Prediction market operator Underdog has partnered with zerohash to add cryptocurrency and stablecoin deposits, expected to launch later this year. Eligible users will be able to fund accounts through the app with near-instant transfers around the clock, without managing wallet addresses or choosing blockchain networks. Underdog has not yet said which cryptocurrencies or stablecoins will be supported. The company, founded in 2020, has more than 11 million registered accounts and is being acquired by IG Group for up to $1.3 billion, with closing expected in late 2026 or early 2027. Over the 30 days ending Oct. 21, its trading volume reached $1.4 billion, up 133%, still far behind Kalshi's $81.5 billion and Polymarket's combined $17.2 billion.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.