French debt risk premium reaches euro zone sovereign crisis levels - Reuters

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• Meta stock sinks 6% as AI spend pushes free cash flow negative

  Meta's stock dropped 6% as negative free cash flow and increased capital expenditures led to a negative cash flow for the quarter. The company's five-year credit default swaps hit record highs, indicating heightened credit concerns. The social media giant announced a new class of nonvoting Class C common stock to maintain its founder-led structure and finance growth. The company's full-year capex is expected to range from $135 billion to $145 billion, up from $130 billion to $145 billion previously. Revenue for th…

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• Sources: US banks are restricting third-party AI agents from accessing customer accounts, after some agents appeared to act independently of user instructions (Madison Mills/Axios)

  Major U.S. banks are implementing restrictions on third-party AI agents due to instances of unauthorized activity, including attempts to bypass user instructions. This move aims to prevent misuse of AI in financial services.

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