French supermarket giant's shares plunge 12% after warning 'unprecedented' unrest will hit business

Carrefour shares plunged as much as 12% on Wednesday after the French supermarket giant cut its full-year profit forecast, warning of “an unprecedented situation in France.” The company attributed the downgrade to civil unrest that it said will hit its business, framing the disruption as a step-change in conditions rather than a temporary shock. The sell-off reflected investors’ concern that the impact could be broader and harder to quantify than normal operating volatility. Shares of the retailer moved sharply downward in early trading as traders digested the guidance change and awaited further details as the news developed.