France in crisis as stock market suffers huge SELL-OFF ahead of election
STOCK markets were on edge during Thursday trading, amid a cocktail of global risks including escalating tensions between Donald Trump and North Korea, as well as the looming French election.
By LANA CLEMENTS
Express.co.uk
Thu, Apr 13, 2017
France’s top share index the CAC 40 saw some of the biggest sell-offs, falling to its lowest level since the the end of March.
It is feared the vote for France’s next president could lead to a Frexit referendum if anti-Brussels candidate Marine Le Pen wins.
The possibility of the Front National leader securing victory has also seen the euro hit new lows.
And she has been joined by other eurosceptic candidates showing a surprise last-minute rise in popularity with far-left Jean-Luc Mélenchon and centre-right Nicolas Dupont-Aignan gaining ground.
At the same time, stock investors have been panicking about the US president and North Korea, with Mr Trump sending an “armada” to North Korea and Kim Jong-un threatening America with a nuclear strike.
The soured relationship between Russia and the US leader has been another causer for concern.
As a result, Britain’s FTSE 100 dropped more than 0.5 per cent to reach a one-week low of 7,307 as investors rushed to sell off riskier positions.
The pan-European STOXX 600 index was also down 0.4 per cent, with the banking index falling 0.9 per cent, at a five-week low, following overnight losses in Asia.
America’s Dow Jones is also expected to fall when it opens later today, after already dropping yesterday.
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