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CAC 40 Declines As Trump Threatens Europe With Tariffs
(RTTNews) - French stocks traded sharply lower on Friday as the U.S. faced a government shutdown after President-elect Donald Trump abruptly rejected a bipartisan plan.
Tariff worries also spooked markets after U.S. President-elect Donald Trump warned the European Union to buy more U.S. oil and gas or face tariffs.
The benchmark CAC 40 dropped 98 points, or 1.4 percent, to 7,196 after declining 1.2 percent on Thursday.
In corporate news, Credit Agricole declined 1.6 percent after the bank announced the acquisition of Santander's 30.5 percent stake in CACEIS, its asset servicing subsidiary.
Drug major Sanofi fell 1.1 percent after it agreed to acquire CORXEL's rights relating to aficamten in Greater China for an undisclosed amount.
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