CAC 40 Slides On Recession Worries
(RTTNews) - French stocks fell notably on Tuesday as concerns grew that aggressive monetary tightening and geopolitical risks could tip the global economy into a recession.
The dollar edged higher on safe-haven demand, as Russia intensified its attacks against Ukraine and Federal Reserve Vice Chair Lael Brainard said the central bank has no intentions of a dovish pivot in the near-term, and the actual policy path will be data dependent
Elsewhere, China vowed to stick to its zero-COVID policy as infections ticked up ahead of 20th Party Congress.
The benchmark CAC 40 was down 52 points, or 0.9 percent, at 5,788 after losing half a percent in the previous session.
Sanofi shares rose about 1 percent. Regeneron Pharmaceuticals Inc. and the French drug maker have presented late-breaking positive results from a Phase 3 trial evaluating the investigational use of Dupixent (dupilumab) in children aged 1 to 11 years with active eosinophilic esophagitis.
European Markets Likely To Remain Lackluster Amid Thin Volumes
Asian Stocks Turning In Mixed Performance Ahead Of Holidays
Indian Shares May Open Higher On Positive Global Cues
U.S. Dollar Falls Against Swiss Franc
Swiss Stocks Close On Firm Note; SMI Hits New Record High
European Stocks Close Broadly Higher
Canadian Stocks Turning In Mixed Performance
