European Stocks and Euro Fall Amid Political Instability

European stock markets and the euro declined on Monday due to the success of far-right parties in European elections and significant losses for President Emmanuel Macron’s alliance, leading to his decision to hold a snap election. The euro dropped 0.5% against the dollar to a one-month low of $1.0747. France’s CAC 40 index fell by 2%, with banks like Societe Generale, BNP Paribas, and Credit Agricole experiencing over a 4% decrease. The pan-European Stoxx 600 declined by 0.8% in early trade.