French stocks edged lower on Wednesday as investors fretted about the impact higher prices will have on economies around the world.
After U.S. inflation data blew past Wall Street’s expectations, investors now wait for guidance from Fed Chairman Jerome Powell, who delivers his semi-annual testimony on monetary policy and the economy today and tomorrow.
The dollar may see bullish bets if he suggests that taper is right around the corner.
San Francisco Fed President Mary Daly told CNBC that the time for tapering is drawing near and a strong economic recovery will allow the central bank to slow its asset purchases by late this year or early in 2022.
The benchmark CAC 40 index slipped 17 points, or 0.3 percent, to 6,541 after closing marginally lower in the previous session.
Travel stocks dropped, with airline Air France KLM falling more than 1 percent on worries over the Delta variant’s spread in the continent.
Market Analysis
CAC 40 Edges Lower On Inflation Concerns
2021-07-14 09:13:32
