Stock markets fell Tuesday as political turmoil in France hit investors' risk appetite, as did US President Donald Trump's move to fire central bank governor Lisa Cook.

The Paris stock market tumbled and French borrowing costs rose over fears that France's minority government could be toppled, after Prime Minister Francois Bayrou proposed a confidence vote to break an impasse over his proposed budget cuts.

"Delaying or ditching (fiscal) reforms will make the debt situation more untenable and weigh on the economy," said Neil Wilson, UK investor strategist at Saxo Markets.

Shares in French banks sank, with BNP Paribas down around five percent while rival Societe Generale shed more than six percent.

Both major lenders hold large amounts of French government debt.

London and Frankfurt wer

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