French stocks fell sharply on Friday as investors react to hawkish comments from Fed Chair Jerome Powell on interest-rate rises.
Powell said he saw merit in “front-end loading” policy moves, including a 50 basis point rate hike at the May FOMC meeting.
Growth worries also weighed as Shanghai extended the Covid-19 lockdown to April 26.
The benchmark CAC 40 dropped 91 points, or 1.4 percent, to 6,624 after having surged 1.4 percent the previous day.
EssilorLuxottica shares fell nearly 2 percent despite the eyewear group reporting a sharp rise in first-quarter revenue.
Automaker Renault declined 1.2 percent after reporting lower Q1 sales.
Retailer Casino Group rose half a percent after its first-quarter Group net sales rose 4.7 percent from last year.
Luxury group Kering plunged 5.2 percent after reporting slowing growth at the star label Gucci.
Market Analysis
CAC 40 Tumbles As Shanghai Extends Lockdown
2022-04-22 09:17:29
