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European stocks open lower- CAC 40 hammered in early trade

Well, it has not been a very positive opening for the European stock markets today. Trading has just gotten underway and it is a sea of red across the major indexes. The CAC 40 is leading the way. The index has fallen sharply following the snap general election called over the weekend by the French President. The CAC managed to avoid a close below 8k on Friday, when it rebounded from a low at 7,943 and later ended the week at 8,001.80. However, the index has reopened sharply lower and below the Friday low this morning and that is forcing the FTSE 100 and DAX indexes lower as well. So, the index was priced to open below 7,800 earlier this morning. It is trying to steady itself right now, but this snap election news has clearly unnerved French stock market investors. The index is just now trading at 7,855
 

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