John Authers, Columnist

From a Reverse in Stocks to Stability in France

Expectations for rate hikes are growing extreme and working their way through markets, but Macron’s win feels like a moment of calm.

April 25, 2022 at 5:48 AM UTC

By John Authers

John Authers is a senior editor for markets and Bloomberg Opinion columnist. A former chief markets commentator at the Financial Times, he is author of “The Fearful Rise of Markets.”

The EU dodges a French election bullet and is safe from Le Pen for another five years. — The EU dodges a French election bullet and is safe from Le Pen for another five years.
Photographer: Nathan Laine/Bloomberg

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What exactly happened last week? Attention was monopolized by a nasty slide for U.S. stocks into Friday’s close. A number of history’s most notorious crashes occurred on a Monday reopening after a bad Friday, so it’s understandable this provoked concern: