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22m ago

Markets Sway as French Turmoil Batters Paris, Japan Rally Builds, and AI Deal Propels U.S. Tech

Safe-haven buying underscores investor focus on political turmoil alongside a U.S. data blackout.

A person stand in front of an electronic stock board showing Japan's Nikkei index at a securities firm Monday, Oct. 6, 2025, in Tokyo. (AP Photo/Eugene Hoshiko)
People stand in front of an electronic stock board showing Japan's Nikkei index at a securities firm Monday, Oct. 6, 2025, in Tokyo. (AP Photo/Eugene Hoshiko)
Holograms are seen on the new Japanese 5,000 yen banknote displayed at a currency museum of the Bank of Japan in Tokyo, Japan July 3, 2024. REUTERS/Issei Kato/Pool
FILE - The New York Stock Exchange is seen in New York, July 14, 2025. (AP Photo/Seth Wenig, file)

Overview

  • France’s crisis deepened as Sébastien Lecornu quit 14 hours after naming his cabinet, then was given two days by President Emmanuel Macron to present a stability plan as French borrowing costs rose and the euro weakened.
  • Paris’s CAC 40 fell 1.4% and major banks BNP Paribas, Société Générale and Crédit Agricole lost more than 3%.
  • Japan’s Liberal Democratic Party chose Sanae Takaichi as leader, sending the Nikkei to a record and the yen past 150 per dollar as markets priced looser policy and higher long-dated yields, with a 30-year bond auction set to test demand.
  • U.S. benchmarks closed at records as AMD jumped about 24% on a multi-year OpenAI chip-supply deal that Reuters reported could bring tens of billions in annual revenue and includes an option for OpenAI to buy roughly 10% of AMD.
  • Safe-haven assets rose with spot gold hitting an all-time high near $3,977 as the U.S. government shutdown delayed economic data, bitcoin reached a record, and oil climbed after a smaller-than-expected OPEC+ November output increase.