France's riots cost Carrefour tens of millions, euro takes the hit

Carrefour's chief executive said 50 stores were damaged and 20 looted after Saturday's unrest, with losses running into the tens of millions of euros, part of a weekend that saw roughly 550,000 to 800,000 protesters, a torched town hall and nearly 1,800 arrests, according to Reuters. President Macron called for calm and promised prosecutions; his government blamed the ultra-left. The euro fell as much as 0.5% against the dollar on Monday, touching $1.1183, as traders priced French instability alongside Ukraine-related tension, per market reporting. France's 10-year yield has already climbed from below 4% two months ago to near 4.85%, and a government trying to pass 54 billion euros in savings now has to do it against a backdrop of burning town halls. Bond investors in Italy and Greece are watching the spread, not the smoke.