America sneezes, Europe starts to catch the cold

Hello, this is Leonie Kidd coming to you from London. Welcome to another edition of CNBC’s Daily Open.

In a jittery market, it doesn’t take much to make the situation worse.

A weaker-than-expected jobs report in the U.S., strained discussions over the French budget, and the risk of a snap election in Spain are creating a wall of uncertainty that is playing out across asset classes.

Throw in some midterms campaign profanity and a contentious runoff in Brazil, and it makes for a tricky environment for investors.

Read on for more.

The Euro has hit a 17-month low against the dollar, falling to its weakest level versus the greenback since May 2025. A combination of economic and political uncertainty has investors on edge, with the French budget debate driving risk sentiment, while speculation of an early election in Spain also has markets jittery.

It’s not all rosy stateside. The jobs report on Friday showed the U.S. economy added just 29,000 roles in September, well short of the 84,000 forecast. However, the major indices rose on the news, as traders priced in a high probability that the Federal Reserve will stay put on interest rates when it meets later in October.

Futures are flat as investors focus on the minutes from the Fed’s latest meeting, due on Wednesday.

With U.S. government borrowing costs at their highest level in decades, should investors be bracing for a “fiscal apocalypse?”

Experts speaking to CNBC said not yet, calling fears of an imminent crisis “exaggerated.”

For more, read on here, and join “Squawk Box Europe” for the view from Goldman Sachs co-CEO of International, Anthony Gutman.

U.S. President Donald Trump has threatened South Korea, saying he will “charge more” if the country fails to sign the Alaska LNG deal.

“If they don’t want to do it, that’s OK with me. I’ll just charge them more,” Trump told reporters Friday, according to the White House. “Tell them if they don’t sign shortly, I’m going to double it up.”

Trump did not specify what would be doubled. 

Meanwhile, the president turned to profanity in a speech during an Ohio rally. He warned voters that financial help for the state would be contingent on a Republican win during the midterm elections.

“Just get out and vote,” Trump said at a rally for Republican candidates. “If you do that, we’re going to win, and we’re going to win big, and we’re going to shove it up their a–.”

Brazilian voters are heading to a runoff election on October 25 after the two leading candidates fell short of the majority required for an outright win….