From Bloomberg Markets and Finance.

UK markets were plunged into fresh volatility on Friday as speculation about the budget heightened uncertainty over the nation’s fiscal position. First, government bond yields jumped the most since July, and the pound and FTSE 100 stock index slumped, after overnight reports that Chancellor of the Exchequer Rachel Reeves was dropping plans to raise income tax. The moves pared after Bloomberg News reported that improved UK forecasts were behind the move.

The crypto market remains under strain after $19 billion in liquidations on Oct. 10 in turn erased over $1 trillion from the total market value of all cryptocurrencies, CoinGecko data shows. The liquidations keep coming, with more than $1 billion worth of leveraged crypto bets wiped out in the past 24 hours, according to CoinGlass data.

The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Guy Johnson and Kriti Gupta.

Chapters:
00:00:00 – The Opening Trade
00:02:47 – Stock Pressure, Fed Rates
00:05:35 – Trump Readies Tariff Cuts
00:08:10 – Rachel Reeves, UK Tax Hikes
00:10:56 – China Unprecedented Investment Slump
00:11:14 – Black Sea Port Novorossiysk Targeted
00:11:34 – German Lawmakers Approve €3.9B Military Orders
00:12:35 – Hasn’t Seen Anything That’s Concerning US: Citi CEO
00:14:14 – Fed December Rate Cut Doubts
00:20:18 – UK Bonds
00:25:14 – Is Sell-America Back?
00:36:24 – Trump Unveils Trade Deal to Reduce Tariffs
00:39:37 – Stocks Drops on AI Valuation
00:46:52 – Stock to Watch: Richemont, Siemens Energy, Repsol
01:07:07 – Richemont Stock
01:10:37 – UK Markets Swing Wildly
01:14:35 – Vinted CEO
01:26:14 – Swiss RE CFO
01:31:08 – Reeves Tax U-Turn
——–
More on Bloomberg Television and Markets

Like this video? Subscribe and turn on notifications so you don’t miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9
Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more.

Connect with Bloomberg Television on:
X: https://twitter.com/BloombergTV
Facebook: https://www.facebook.com/BloombergTelevision
Instagram: https://www.instagram.com/bloombergtv/

Connect with Bloomberg Business on:
X: https://twitter.com/business
Facebook: https://www.facebook.com/bloombergbusiness
Instagram: https://www.instagram.com/bloombergbusiness/
TikTok: https://www.tiktok.com/@bloombergbusiness?lang=en
Reddit: https://www.reddit.com/r/bloomberg/
LinkedIn: https://www.linkedin.com/company/bloomberg-news/

More from Bloomberg:
Bloomberg Radio: https://twitter.com/BloombergRadio

Bloomberg Surveillance: https://twitter.com/bsurveillance
Bloomberg Politics: https://twitter.com/bpolitics
Bloomberg Originals: https://twitter.com/bbgoriginals

Watch more on YouTube:
Bloomberg Technology: https://www.youtube.com/@BloombergTechnology
Bloomberg Originals: https://www.youtube.com/@business
Bloomberg Quicktake: https://www.youtube.com/@BloombergQuicktake
Bloomberg Espanol: https://www.youtube.com/@bloomberg_espanol
Bloomberg Podcasts: https://www.youtube.com/@BloombergPodcasts