JPMorgan's latest analysis raises a cautionary flag: France, Belgium, and Austria face the highest credit-rating downgrade risks among euro-zone members heading into 2026. The outlook underscores growing fiscal pressures within these economies as they navigate elevated borrowing costs and structural economic challenges. For investors, this signals potential volatility in European assets and broader market implications, especially as central banks continue navigating the inflation-growth trade-off. The euro-zone's stability remains under scrutiny, with these three nations deserving close attention on your radar.