CAC-40 Plunges As Fed's Hawkishness Hurts
(RTTNews) - The CAC-40 plunged more than 1 percent as investors digested the Fed's warning on rates that indicated a higher peak than originally anticipated. The review by the ECB due later in the day also added to the mood of caution.
Earlier, data released showed the manufacturing climate indicator for December steady at 101 and slightly above market forecasts of 100. The annual inflation rate in November was confirmed at 6.2 percent, unchanged from the previous month's level.
The CAC-40 is currently trading at 6,655.12, down 1.12 percent from the previous close. The day's trading has been between 6,638.20 and 6,680.22.
Carrefour, Unibail Rodamco Westfield, Orange and three other scrips are trading in the green zone.
Kering dropped 5 percent whereas Worldline erased 4.5 percent. Hermes International and STMicroElectronics declined more than 2 percent. Another 17 scrips are trading with losses of more than 1 percent.
The EUR/USD pair is at 1.0616, shedding 0.62 percent overnight whilst the Fed's hawkishness lifted the US Dollar Index 0.50 percent higher to 104.29.
The ten-year bond yield has decreased 0.37 percent to 2.408% versus the previous close of 2.417%.
The pan-European STOXX 600 is currently trading at 437.30, down 1.2 percent on an overnight basis.
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