After another pivotal election in Europe this weekend, markets in the Unites States reacted negatively this morning. CNBC Writes:
U.S. stocks opened lower Monday after populists gained ground in a Sunday election in Germany and investors weighed the likelihood of another interest rate hike this year.
Despite long time chancellor Angela Merkel winning another term, fears that Germany may slowly be swaying towards the far-right were confirmed:
German Chancellor Angela Merkel won a fourth term in office but her conservative bloc only secured 33 percent of the vote, its lowest share since 1949, according to Reuters. The far-right Alternative for Germany (AfD) took 12.6 percent of the vote and will become the first nationalist, right-wing party to enter the German parliament since World War II.
After strong showings by populist parties in Germany and France (the two pillars of the EU) who knows what will happen in Europe going forward? You can find out more about the German election as well as some new information about the Fed’s strategy at cnbc.com.
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