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France has been in the news lately leading up to its elections. But what is the date of the French election?
Will a Stock Market Sell-Off Happen After the French Election?
If one of those candidates does not win a majority (over 50%) of the votes, then the runoff election will take place on May 7.
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What to Expect from the French Election This Week
It is highly unlikely that one candidate will win an outright majority of the votes this weekend. The concern is that the two front-runners that represent the far-right and the far-left (Le Pen and Mélenchon, respectively) will make it to the next round of elections. All four of the candidates are currently within 4% of each other in the current polls, but Le Pen and Mélenchon were early favorites.
Even more concerning is that both of these candidates want France to exit the EU and return to the French franc.
If both candidates make it to the runoff elections, you can expect to see a large drop in world markets Monday, according to Money Morning Capital Wave Strategist Shah Gilani.
The reason for the sell-off would be concerns about the EU being able to continue. Britain is already negotiating an exit, and Greece may have no choice but to leave if it can't get its finances in order. A French exit would potentially mean three of the 27 countries are leaving the EU within a year or two of each other. This is potentially the start of a mass exit from the EU.
While this will cause a lot of volatility in the global markets, Money Morning readers have no need to panic. In fact, we've found the perfect way to profit from the ongoing instability in Europe…
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