Global markets hit by CME crash and China’s copper shift - Nov 28, 2025

As of November 28, today’s news is dominated by a significant outage at the CME Group, causing trading disruptions across global markets, and ongoing developments in various sectors including telecom, mining, and international relations. CME experienced a major outage that halted trading in futures and indexes globally, following a cooling issue at its data centers. This disruption, which began late Thursday, prevented traders from accessing critical market data, leaving them without guidance during a crucial trading period. Most operations were restored by Friday morning, though frustrations persisted among market participants due to continued delays, particularly affecting Treasury futures. In the telecom sector, France’s Orange has temporarily closed a site in Marseille due to rising concerns over gang-related violence, which has escalated following recent incidents in the area. The French employment minister supported the closure, emphasizing the need for enhanced police presence to ensure employee safety amidst growing drug-related crime in the Mediterranean port city. This decision reflects broader societal issues affecting business operations in volatile regions. Copper production insights from China reveal that major smelters plan to cut output by over 10% in 2026 to address the negative processing fees and overcapacity in the market. This decision comes at a time when treatment charges have turned unfavorable for smelters, impacting overall production dynamics in the world's largest copper consumer. On the banking front, Luigi Lovaglio, CEO of Banca Monte dei Paschi di Siena, is under investigation for alleged market manipulation linked to his recent acquisition of Mediobanca. This scrutiny raises concerns about the integration of the two institutions, further complicated by different operational models. Analysts suggest that the legal challenges could introduce significant hurdles for the newly merged entity. Internationally, discussions are scheduled between Russian President Vladimir Putin and Indian Prime Minister Narendra Modi regarding their bilateral "privileged strategic partnership." This meeting occurs in the context of India's diversified military procurements and ongoing defense cooperation with Russia, suggesting a complex geopolitical landscape where nations navigate their strategic interests amid shifting alliances.