French stocks tumbled on Thursday after data showed U.S. consumer inflations rose 4.2 percent in April over its level a year ago, the fastest pace in more than 12 years due to base effects and supply bottlenecks caused by a number of factors.
While Federal Reserve officials see the current rise as temporary and not likely to influence policy, investors worry surging inflation might disrupt the recovery or prompt the Fed to change its course sooner than indicated by officials in their projections.
U.S. producer price data for April and weekly jobless claims figures, due later in the day may sway sentiment as the day progresses.
The benchmark CAC 40 fell 108 points, or 1.7 percent, to 6,171 after closing 0.2 percent higher the previous day.
Banks BNP Paribas, Credit Agricole and Societe Generale all fell around 3 percent.
Food and beverage company Danone was little changed on news it is selling a potential $2 billion stake in China Mengniu Dairy Company.
CAC 40 Tumbles On Worries Over Fed Outlook
2021-05-13 09:19:10
