There’s no sugarcoating it – this was a bad week for European stocks.
Here’s the Euro Stoxx 50, the DAX, the CAC, and the FTSE:
Simply put: nothing was spared.
Let’s zoom in on the CAC 40 for a second, because this is notable. The three-day slide we got this week served to erase the entirety of the “Macron bump.”
As Bloomberg noted earlier this morning, “the CAC 40 had gained as much as 7.6% in few weeks following Macron’s victory [but] the index is now back to April 21 levels.” Have a look:
Oh, and as for that Barron’s subscription you’ve been forgetting to cancel for the past decade, time to call them up and discontinue…