CNBC Daily Open: America sneezes, Europe starts to catch the cold

The euro steadied near its lowest in a month on Wednesday, nursing steep losses this week as investors counted the cost of the U.S.-EU trade pact. Olena Malik | Moment | Getty ImagesHello, 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.What you need to know todayInvestor discomfort has been playing out across global bond markets, but now currency pairs are also showing signs of pressure. 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 al...