CAC 40 Slides As Geopolitical Tensions Mount
(RTTNews) - French stocks were moving lower on Tuesday on concerns that a trip by U.S. House Speaker Nancy Pelosi to Taiwan would raise tensions between the world's two economic superpowers.
Chinese foreign ministry spokesman Zhao Lijian said that Pelosi's visit would lead to "very serious developments and consequences". The White House has warned China against turning her visit into a crisis.
Additionally, the United States accused Russia of using Ukraine's biggest nuclear power plant as a "nuclear shield" by stationing troops there, preventing Ukrainian forces from returning fire and risking a terrible nuclear accident.
The benchmark CAC 40 was down 33 points, or half a percent, at 6,403 after declining 0.2 percent in the previous session.
Industrial group Bouygues rose about 1 percent despite reporting a fall in first-half net profit.
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