French stocks traded lower on Tuesday amid growing doubts about the strength of China’s post-Covid recovery and signs of increasing tensions between Washington and Beijing.
China reportedly declined a U.S. invitation for a meeting between U.S. defense secretary Lloyd Austin and Chinese defense minister Li Shangfu at a forum in Singapore later this week.
Investors were also focused on the latest U.S. debt ceiling developments after a handful of Republican lawmakers said they would oppose a deal to raise the United States’ $31.4 trillion debt ceiling.
The benchmark CAC 40 was down 27 points, or 0.4 percent, at 7,276 after declining 0.2 percent the previous day.
Among the prominent decliners, Danone and Pernod Ricard and TotalEnergies were down around 1 percent each.
CAC 40 Slides On China Growth Concerns
2023-05-30 09:10:56
