Markets ended the week on a risk-off note. Stocks tumbled, led by a selloff in technology equities, while oil and gas prices jumped amid investor concerns about a potential escalation of the Middle East conflict. U.S. and German sovereign yields nudged down, driven by safe-haven flows, while euro area peripheral spreads widened, and the USD and the EUR weakened. On the data front, euro area GDP grew by 0.4% qoq in Q3 2026, after growing by 0.6% in Q2 . Excluding Ireland, euro area GDP growth stood at 0.2% in Q3 and 0.3% in Q2. Spanish GDP posted the strongest growth (at 0.6% qoq). Germany's economy grew by 0.2%, Italy's stagnated (0.0%) and French GDP fell (-0.1% qoq). This week, the focus will be on the U.S.
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