Later..

DAX, Cac40, S&P500

• The Bloomberg Magnificent 7 index, including the dominant tech groups, is down 16%, and has just dropped below its 200-day moving average for the first time in more than two years..

 Euro

• German stocks and bund yields are climbing after chancellor in waiting Friedrich Merz said the country will unlock hundreds of billions of euros for defense and infrastructure investments in a dramatic shift that upends its ironclad controls on government borrowing.
• The Euro accounts for 20% of global official reseves. The Dollar over 57%. 

• Could US dominance over global debt markets change?