French Markets Sell Off on Election Surprise
French markets came under pressure after President Emmanuel Macron called a snap parliamentary election. Macron's move followed an unexpectedly strong showing for the far-right National Rally party in voting for the European Parliament—the latest in a series of electoral upsets to roil global markets. "This has created critical uncertainties, a French election in a few weeks was definitely not on the market’s radar," said Antonio Cavarero, head of investments at Generali Asset Management.