CAC 40 Extends Losses On Worries About Trade Tensions
(RTTNews) - French stocks fell on Wednesday to extend losses from the previous session as fears over Trump's presidency overshadowed the prospect of U.S. interest-rate cuts in 2024.
The phenomenon known as the "Trump trade" has gained new momentum in financial markets after Donald Trump chose Ohio senator J.D. Vance to be his running mate for the 2024 presidential election.
Also, Trump said he thinks Taiwan should pay the U.S. for defense claiming the country "doesn't give us anything."
The benchmark CAC 40 was down 27 points, or 0.4 percent, at 7,552 after declining 0.7 percent in the previous session.
In corporate news, Pernod Ricard shares rose 1.3 percent.
The conglomerate has inked a deal to sell its international wine brands to Australian Wine Holdco Limited, a consortium of international institutional investors and owner of Accolade Wines.
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