CAC 40 Slips As DeepSeek Triggers Tech Sell-off
(RTTNews) - French stocks are down in negative territory Monday morning, snapping a long 9-day winning streak, amid a sell-off in technology stocks due to concerns about the impact of Chinese startup DeepSeek's powerful and cost-efficient AI model on the sector.
Also, the mood is cautious due to concerns about U.S. President Donald Trump's tariff threat, and anxiety ahead of interest rate decisions from the Federal Reserve and the European Central Bank.
The benchmark CAC 40, which slid to 7,844.41, recovered slightly to 7,863.59, still down 64.03 points or 0.81% from previous close.
Schneider Electric is down nearly 9%. Legrand is declining 7%. STMicroElectronics and Capgemini are down 3% and 2.8%, respectively. Edenrd is lower by about 2.2%.
Saint-Gobain, Safran, Dassault Systemes, Hermes International and Airbus Group are down 1 to 2%.
Vivendi is climbing more than 3.5%. Eurofins Scientific is gaining about 2.5% and Societe Generale is up 2.3%. Orange, Carrefour, Engie, Vinci, Sanofi, Bouygues and Danone are up 1.5 to 2%.
Veolia, AXA, Credit Agricole, BNP Paribas, Unibail Rodamco and Stellantis are among the other notable gainers.
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