Global stocks, euro slip ahead of major elections [Video]

Global stock markets slipped while the euro retreated Tuesday on concerns about the potential economic fallout should the far-right win power in France in weekend elections.

London was also lower and the pound traded mixed heading into a UK general election Thursday which the opposition Labour Party is expected to win.

The dollar firmed as investors weighed the possibility of another Donald Trump presidency after last week’s poor debate performance by incumbent Joe Biden.

Wall Street stocks struggled to find direction in early trading as markets await employment data, with analysts pointing to caution while Federal Reserve Chair Jerome Powell participates in a panel discussion with other central bankers.

“Political concerns continue to weigh on European stocks,” noted Joshua Mahony, chief market analyst at Scope Markets.

“Overall, underlying (European) inflation remains on a downward path, not least because of weak growth, and June data support the expectation of more ECB …