CAC 40 Retreats On Recession Worries
(RTTNews) - French stocks tumbled on Thursday amid worries that steep interest-rate hikes could tip the world's largest economy into a recession.
Fed Governor Christopher Waller is scheduled to speak later today amid speculation the Federal Reserve could raise its target fed funds rate by 1 percentage point at its July 26-27 meeting.
June's producer price report may also offer more clues on what the Fed might do.
On the earnings front, major U.S. banks JPMorgan Chase and Morgan Stanley will report their financial results.
The benchmark CAC 40 was down 70 points, or 1.2 percent, at 5,930 after closing 0.7 percent lower in the previous session.
The dollar resumed its relentless rise today, charting new 24-year highs against the yen and pinning the euro close to parity.
TSX Pares Gains After Hitting Fresh Record High; Gildan Activewear Soars 11%
Swiss Market Ends On Firm Note
European Stocks Close Mostly Higher
Bay Street Likely To Open On Positive Note
U.S. Dollar Extends Fall Amid Fed Rate Cut Speculation
FTSE 100 Modestly Higher; Beazley Plunges Sharply
CAC 40 Up Nearly 0.5%; Essilor Rises Sharply
