{"id":54357,"date":"2025-10-10T16:38:25","date_gmt":"2025-10-10T20:38:25","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/global-markets-tumble-on-trade-war-fears-france-reappoints-pm-amid-fiscal-crisis-egypt-sees-rating-boost\/54357\/"},"modified":"2025-10-10T16:38:25","modified_gmt":"2025-10-10T20:38:25","slug":"global-markets-tumble-on-trade-war-fears-france-reappoints-pm-amid-fiscal-crisis-egypt-sees-rating-boost","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-tumble-on-trade-war-fears-france-reappoints-pm-amid-fiscal-crisis-egypt-sees-rating-boost\/54357\/","title":{"rendered":"Global Markets Tumble on Trade War Fears; France Reappoints PM Amid Fiscal Crisis; Egypt Sees Rating Boost"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li>Major U.S. stock indices experienced significant declines on Friday, with the <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a><\/strong> falling <strong>2.73%<\/strong>, the <strong>NASDAQ<\/strong> dropping <strong>3.54%<\/strong>, and the <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a><\/strong> down <strong>1.87%<\/strong>, largely due to renewed U.S.-China trade tensions.<\/li>\n<li>Sebastien Lecornu has been re-appointed as France&#39;s Prime Minister, tasked by President Emmanuel Macron with forming a new government and urgently addressing the country&#39;s public finances and political instability.<\/li>\n<li>S&amp;P Global Ratings upgraded Egypt&#39;s long-term sovereign credit rating to <strong>&#39;B&#39; from &#39;B-&#39;<\/strong>, assigning a stable outlook, citing benefits from the nation&#39;s flexible exchange rate policy and economic reforms.<\/li>\n<li>U.S. bank deposits saw an increase, rising to <strong>$18.522 trillion<\/strong> from <strong>$18.421 trillion<\/strong> in the prior week.<\/li>\n<\/ul>\n<p>Global financial markets concluded the week with significant volatility as major U.S. stock indices plummeted, influenced by renewed trade tensions, while France grappled with political instability and Egypt received a credit rating upgrade.<\/p>\n<h2>U.S. Markets See Sharp Sell-Off Amid Tariff Threats<\/h2>\n<p>U.S. equity markets closed sharply lower on Friday, reversing earlier gains, after President Donald Trump reportedly threatened &quot;massive&quot; tariffs on China. The tech-heavy NASDAQ unofficially closed down <strong>814.24 points, or 3.54%, at 22,210.39<\/strong>. The S&amp;P 500 also saw a substantial decline, losing <strong>183.54 points, or 2.73%, to finish at 6,551.57<\/strong>. Meanwhile, the Dow Jones Industrial Average fell by <strong>866.85 points, or 1.87%, closing at 45,491.57<\/strong>. This broad market downturn was largely attributed to concerns over a potential escalation in the U.S.-China trade dispute, with tech and semiconductor stocks leading the sell-off.<\/p>\n<h2>France Reappoints Prime Minister Amidst Fiscal and Political Turmoil<\/h2>\n<p>In France, President Emmanuel Macron has re-appointed <strong>Sebastien Lecornu<\/strong> as Prime Minister, just four days after Lecornu had resigned from the post. Lecornu&#39;s immediate and critical mission is to form a new government and deliver a budget to parliament by the end of the year. He emphasized the urgent necessity of restoring France&#39;s public finances and bringing an end to the ongoing political crisis. France is currently facing a significant fiscal challenge, with its 2024 deficit reaching <strong>5.8% of GDP<\/strong> and national debt at <strong>114% of GDP<\/strong>, making it one of the most indebted nations in the eurozone. His previous tenure, lasting only 26 days, was the shortest in the history of the French Fifth Republic.<\/p>\n<h2>Egypt&#39;s Credit Outlook Improves with S&amp;P Upgrade<\/h2>\n<p>In a positive development for the North African nation, S&amp;P Global Ratings upgraded Egypt&#39;s long-term sovereign credit rating to <strong>&#39;B&#39; from &#39;B-&#39;<\/strong>, maintaining a stable outlook. This upgrade reflects the benefits derived from Egypt&#39;s shift to a flexible exchange rate policy and ongoing macroeconomic reforms. S&amp;P noted improvements in the country&#39;s economic growth prospects, increased tourism revenue, and greater remittance inflows, which have strengthened its external economic position. The Egyptian government achieved a primary surplus of <strong>3.5% of GDP<\/strong> for fiscal year 2025.<\/p>\n<h2>U.S. Bank Deposits Show Growth<\/h2>\n<p>Amidst these global developments, U.S. bank deposits demonstrated an increase, rising to <strong>$18.522 trillion<\/strong> for the week, up from <strong>$18.421 trillion<\/strong> in the prior week. This growth indicates a continued accumulation of funds within the U.S. banking system.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Major U.S. stock indices experienced significant declines on Friday, with the S&amp;P 500 falling 2.73%, the NASDAQ dropping 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