French stocks fell on Friday as bond yields surged in reaction to the Fed’s decision to allow inflation to accelerate more than normal.
U.S. Treasury yields steadied after a spike sent the benchmark 10-year yield to 1.75 percent for the first time since January 2020.
The benchmark CAC 40 dropped 40 points, or 0.7 percent, to 6,021 amid concerns that a faster inflation and higher interest rates will dampen the global economic recovery from the coronavirus pandemic.
Sanofi shares were moving higher. Oxford Biomedica Plc., a gene and cell therapy group, announced that the French drug maker has given notice intending to terminate their Collaboration and License deal for process development and manufacturing of lentiviral vectors to treat haemophilia.
Oxford Biomedica had originally signed the agreement with Bioverativ, which was acquired by Sanofi, in February 2018.
CAC 40 Down 40 Points Amid Rising Yields
2021-03-19 09:16:58
