CAC 40 Falls Amid Tech Losses and Fiscal Crisis
The CAC 40 fell 0.4% to close at 7,838 on Tuesday, extending the previous session’s losses amid renewed selling in global technology stocks. The sector remained under pressure ahead of major tech earnings this week, as concerns over rising AI investment and elevated interest rates weighed on sentiment. Schneider Electric fell 3.3% and STMicroelectronics lost 0.5%. In France, investors also monitored ongoing civil unrest after protests turned violent over the weekend, adding to political and fiscal uncertainty ahead of the April presidential election. Calls for higher public spending are complicating efforts to address social grievances as the country faces mounting pressure to rein in its growing debt burden. Financial shares mostly fell, with BNP Paribas down 0.4%, while most industrial stocks also closed lower. EssilorLuxottica lost 1% amid a sharp slowdown in smart-glasses sales growth.
The CAC 40 fell 0.4% to close at 7,838 on Tuesday, extending the previous session’s losses amid renewed selling in global technology stocks. The sector remained under pressure ahead of major tech earnings this week, as concerns over rising AI investment and elevated interest rates weighed on sentiment. Schneider Electric fell 3.3% and STMicroelectronics lost 0.5%. In France, investors also monitored ongoing civil unrest after protests turned violent over the weekend, adding to political and fiscal uncertainty ahead of the April presidential election.
Calls for higher public spending are complicating efforts to address social grievances as the country faces mounting pressure to rein in its growing debt burden. Financial shares mostly fell, with BNP Paribas down 0.4%, while most industrial stocks also closed lower. EssilorLuxottica lost 1% amid a sharp slowdown in smart-glasses sales growth.