French stocks tumbled on Thursday after minutes of the Fed’s July meeting showed there was broad consensus among policymakers to reduce their monthly bond buying later this year.
Worries about slowing global growth amid the pandemic and concerns about China’s ongoing crackdown on tech companies also dented investor sentiment.
The benchmark CAC 40 index plunged 191 points, or 2.8 percent, to 6,578 after losing 0.7 percent on Wednesday.
Travel-related stocks fell, with airline Air France KLM declining 1.1 percent.
Petroleum refining company TotalEnergies plummeted 3.7 percent as oil dropped towards $66 a barrel to its lowest since May on concerns about weaker demand.
Automaker Renault lost 2.5 percent while banks BNP Paribas, Credit Agricole and Societe Generale fell 2-3 percent.
Market Analysis
CAC 40 Slumps On Fed Taper Worries
2021-08-19 09:08:47
