CAC 40 Tumbles As US Debt Ceiling Talks Drag On

RTTNews | 778 days ago
Stocktwits
CAC 40 Tumbles As US Debt Ceiling Talks Drag On

(RTTNews) - French stocks fell sharply on Wednesday as investors awaited clarity on the outcome of debt ceiling negotiations in the United States.

The Treasury Department has asked federal agencies whether they can make upcoming payments at a later date, the Washington Post reported, citing two people familiar with the matter.

U.S. Treasury Secretary Janet Yellen previously warned lawmakers that a default in early June is "highly likely."

Following recent hawkish talk from several Federal Reserve officials, investors also waited for the minutes from the Federal Reserve's meeting earlier in May for additional clues on the Fed's rate hike path.

The benchmark CAC 40 was down 111 points, or 1.5 percent, at 7,267 after falling 1.3 percent the previous day.

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Commodity Currencies Rise Amid Renewed Tariff Concerns; USD Slide

Commodity Currencies Rise Amid Renewed Tariff Concerns; USD Slide

The commodity currencies such as Australia, the New Zealand and the Canadian dollars strengthened against their major counterparts in the early European session on Thursday, as traders are optimistic about an end to the tariff uncertainty after U.S. President Donald Trump made it clear that he will not extend the August 1 deadline for trade deals, though he gets aggressive with tariff imposition. They are also optimistic about a potential trade deal between the U.S. and the European Union.
RTTNews | 47 minutes ago
European Shares Extend Gains On Trade Deal Optimism

European Shares Extend Gains On Trade Deal Optimism

European stocks rose for a fourth consecutive session on Thursday as optimism prevailed about a potential trade deal between the U.S. and the European Union. EU trade chief Maros Sefcovic said there was good progress on a framework trade agreement and a deal may even be possible within days.
RTTNews | 1h 21min ago
Bank Of Korea Keeps Rates Steady

Bank Of Korea Keeps Rates Steady

The Bank of Korea maintained its interest rate on Thursday as rising house prices and household debt pose risks to the financial stability amid escalating trade tensions weighing on economic growth outlook. The Monetary Policy Board decided to leave the Base Rate unchanged at 2.50 percent. The bank had previously reduced the benchmark rate by a quarter-point each in May and February.
RTTNews | 3h 53min ago
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