French Stocks See $210 Billion Wipeout From Macron’s Vote Call

French stocks lost about $210 billion in market capitalization this week, about the size of Greece’s economy, following President Emmanuel Macron’s decision to call a snap election. The CAC 40 index erased all gains for 2024.

That’s weighed on the pan-European Stoxx 600 benchmark, which had its worst week since October. The index was down 1% by the close on Friday in London, with autos and industrials the biggest laggards. Defensive sectors such as health care and consumer staples outperformed, while France’s benchmark dropped 2.7%.