French Stocks Slide Again as Political Risk Roils Banking Shares

French equities posted their biggest two-day decline in a year as banking stocks fell along with the country’s bonds as the fallout from President Emmanuel Macron’s decision to call a snap election deepened.

France’s benchmark CAC 40 Index ended the session 1.3% lower, bringing the total decline over the past two days to 2.7%. Lenders Societe Generale SA, Credit Agricole SA and BNP Paribas were among the biggest losers, seeing the Euro Stoxx Banks Index mark its worst day since last August. The pan-European Stoxx 600 fell 0.9%.