India, Aug. 26 -- French stocks are down sharply on Tuesday, extending previous session's steep drop, amid ongoing political uncertainty in the country.
French Prime Minister Francois Bayrou announced the motion to seek backing for his 44 billion euro austerity package. The major opposition parties in the country have stated that they won't back the confidence vote on September 8, and this could result in a call for snap elections.
Investors are also reacting to a report showing France's consumer confidence weakened to the lowest level in August 2025 since October 2023 largely due to the weaker outlook for standard of living and the fall in saving intentions.
The benchmark CAC 40, which dropped to 7,668.08 earlier, was down 129.17 points...