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CAC 40 Tumbles On US Rate Hike Fears
(RTTNews) - French stocks fell sharply on Monday as investors braced for a slew of central bank decisions this week.
The Federal Reserve meets on Wednesday while the Bank of England (BoE) and the Swiss National Bank (SNB) will announce their monetary policy decisions on Thursday.
The Bank of Japan is also meeting on Thursday with no change in interest rates expected.
As inflation worries mount, it remains to be seen whether the Fed will be forced to raise rates by 100 bps at the end of a two-day policy meeting on Wednesday.
The clamor for a 100-basis point rate hike is getting louder every day.
The benchmark CAC 40 was down 64 points, or 1.1 percent, at 6,013 after declining 1.3 percent on Friday.
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Optimism about U.S. and China striking a trade deal sometime soon is also contributing to the positive mood in the market.
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