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Tech Surge Counters Market Jitters as French Yields Climb Before Confidence Vote

Attention shifts to a Paris confidence vote next week with U.S. tariff enforcement frozen until October 14.

Overview

  • Paris stocks attempted a rebound Wednesday, with the CAC 40 up about 0.45% in early trade and roughly 0.86% by mid‑session after a 0.70% slide on Tuesday.
  • French long‑dated borrowing costs remain elevated after the 30‑year yield topped 4.50% for the first time since 2011 on Tuesday, hovering near 4.45% on Wednesday.
  • Prime Minister François Bayrou is holding consultations ahead of the September 8 confidence vote that opposition parties say they will reject, clouding the government’s €44 billion savings plan.
  • A U.S. court declined to force Google to divest Chrome, propelling Alphabet more than 8% higher and boosting large tech names, including Apple.
  • Trade policy uncertainty lingers after a U.S. appeals court found much of President Donald Trump’s tariffs illegal but paused enforcement until October 14, while gold set records above $3,500 and Derichebourg cut guidance and sank over 10%.