CAC 40 Extends Slide As Growth Worries Weigh

2024-08-31 4007
(fxcue news) - French stocks traded lower on Wednesday to extend losses from the previous session as weak U.S. manufacturing data reignited recession fears. Disappointing services sector activity data from China and a disagreement among ECB policymakers on the outlook for regional growth also dented investors' appetite for riskier assets. The benchmark CAC 40 was down 64 points, or 0.8 percent, at 7,511 after declining 0.9 percent in the previous session. The dollar index struggled for direction and Treasury yields hovered below 3.85 percent as focus shifted to more U.S. economic data due this week, including Friday's payrolls data that could offer more clues on the economic and rate outlook.
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