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Voters in the European Union delivered strong gains to anti-immigrant, nationalist parties, challenging leaders in Germany and France, and unsettling the political establishment.

The president’s decision, on the eve of the summer Olympic Games that begin in Paris in July, ushered in a period of deep political uncertainty in France.

The peso had its worst week since the pandemic as markets reacted to fears that the government would pass constitutional changes seen as dismantling democratic checks and balances.

The move is unlikely to force Prime Minister Benjamin Netanyahu from office. But Mr. Gantz’s exit exposes the fractures within Israel’s leadership eight months into the war in Gaza.

The New Flemish Alliance’s victory will bring relief to the country’s political establishment, which had long been bracing for a victory by the far-right party Vlaams Belang.