CAC 40 Extends Losses On US Debt Ceiling Jitters
(RTTNews) - French stocks edged lower on Thursday to extend losses from the previous session as the impasse in negotiations to raise the U.S. debt ceiling and warnings of a possible U.S. credit rating downgrade spooked investors.
Fitch Ratings along with Moody's and S&P placed the United States "AAA" credit on "rating watch negative," signaling downside risks to U.S. creditworthiness.
Traders remained wary of a possible and catastrophic default with U.S. Treasury Secretary Janet Yellen maintaining early June as a debt ceiling default deadline.
The benchmark CAC 40 was down 24 points, or 0.3 percent, at 7,228 after plummeting 1.7 percent in the previous session.
Among the prominent decliners, Capgemini, Carrefour, Kering, Renault and Vivendi fell over 1 percent each.
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