CAC 40 opens below 7,500 as European stocks slide on the opening

The European stock markets have just reopened and it has been a markedly lower start to the new session. Of course that was always going to be the case and the major European index futures were already hitting session lows just ahead of the start of live trade. The CAC 40 is opening below 7,500 this morning after falling back from a high seen yesterday at 7,671. The index later closed 71 points lower, at 7,575. The fall in the CAC was not the worst seen across Europe yesterday, but the drop back below 7,500 this morning does endorse the ongoing political mess facing the country and that has been the case ever since the outcome of the French election. To be honest, and as stated here many times over, the CAC was surely only riding higher on the coattails of the DAX, as that reached new records yesterday. Well, not any more it seems. The price action is pretty rapid across both indexes this morning, as the bulls and the bears attempt to battle for supremacy in terms of direction by the close this afternoon