Suddenly confronted with the possibility of far-right candidate Marine Le Pen winning this month's French presidential elections against incumbent Emmanuel Macron, traders are scrambling to hedge portfolios against the risk of market turmoil.
A Le Pen victory, while still unlikely, is now within the margins of error before the first voting round on Sunday, opinion polls show. While she no longer advocates ditching the euro, markets are uneasy about her agenda of protectionism, tax cuts and nationalisation.
