European elections rattle markets: a quick recap

The Paris stock market has dropped deeply into the red, after Emmanual Macron stunned France by calling snap parliamentary elections last night. The CAC 40 is down 2% right now, a three-month low, with bank stocks falling over 4%.

Macron called the snap poll after his centrist alliance was trounced by Marine Le Pen’s far-right movement in the European parliamentary vote.