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CAC 40 Declines On Interest-rate Fears
(RTTNews) - French stocks traded lower on Friday as bond yields hit a 15-year high on fears that major central banks will keep interest rates higher for longer to tame inflation.
Worries surrounding the Chinese economy also rattled investors.
Concerns mounted about the country's property sector after Evergrande, which has been working on a debt restructuring strategy for several months, filed for bankruptcy in New York.
The benchmark CAC 40 was down 65 points, or 0.9 percent, at 7,126 after falling 0.9 percent the previous day.
China-related stocks were losing ground, with LVMH, Hermes International and Kering falling 1-2 percent.
Banks BNP Paribas, Credit Agricole and Societe Generale all fell around 1 percent.
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