Euro slides as worries about French debt grow

The euro hit its lowest level against the dollar in 17 months as investors fretted over France's debt trajectory, projected to reach nearly 122% of GDP next year despite planned spending cuts.

French 10-year bond yields climbed to 4.8%, a level not seen since the 2011 eurozone crisis, as an underwhelming budget plan and the looming 2027 presidential election rattled markets. Spain added to the unease after Prime Minister Pedro Sanchez called snap elections following a defeated housing bill.

Elsewhere, Wall Street stayed near record highs on weak jobs data, Paris stocks slid on a Schneider Electric selloff tied to a $22.6 billion acquisition, and oil prices eased after G7 countries released 100 million barrels of reserves to calm supply fears from the U.S.-Iran conflict.

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