{
  "id": 15735010,
  "title": "Stocks sell off globally as France imposes riot curfews and Saudi Arabia cancels ‘Davos in the Desert’",
  "url": "https://urgent.news/2026/10/20/stocks-sell-off-globally-as-france-imposes-riot-curfews-and-saudi",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-20T10:12:57.000Z",
  "source": {
    "name": "Fortune",
    "slug": "fortune",
    "url": "https://fortune.com/2026/10/20/stocks-sell-off-globally-crisis-grips-france-saudi-arabia-cancels-davos-in-the-desert/"
  },
  "original_language": "en",
  "account": "Global stock markets experienced a decline as France imposed riot curfews and Saudi Arabia canceled a major investment conference. Oil prices surged to $111 per barrel, with the yield on French 10-year bonds hitting a level not seen since 2002. An artificial intelligence (AI) IPO in South Korea saw a 30% drop on its debut, reflecting investor skepticism towards AI. Saudi Arabia's decision to cancel the \"Davos in the Desert\" meeting, held in Riyadh following Houthi attacks on the airport, contributed to the market volatility. The disruption of oil supplies from the Middle East also played a role in the price increase. France's government imposed curfews in major cities due to nights of rioting and looting, with footage showing distressed shopkeepers pleading with young men to stop stealing. Similar unrest spread to Milan. Commerzbank's Christoph Rieger noted that the global situation resembled a \"French debt crisis.\" The S&P 500 futures were flat in the morning, while European indices experienced declines of 0.34% for the Stoxx 600 and 0.54% for the FTSE 100. Asia's major indices also suffered, with South Korea's KOSPI down 3.73%, Japan's Nikkei 225 down 1.30%, and India's Nifty 50 closed for a national holiday. China's CSI 300 declined 0.54%. Brent crude prices reached $111 per barrel, while Bitcoin traded at $82,769. Q3 earnings for the S&P 500 were off to a weak start, with only 80% of companies beating expectations. AI-related companies faced headwinds, as capital expenditure investments created long-term costs that began to impact profits from 2028 onward. Tech giants like Microsoft, Meta, and Broadcom experienced declines, while companies benefiting from AI investments, such as SK hynix and Samsung, saw significant gains.",
  "summary": "Traders sold off after oil hit $111 per barrel this morning, an AI IPO in South Korea lost 30% on its debut, and the yield on the French 10-year bond hit 4.94%, a level it has not seen since 2002.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}