CAC 40 Slides As Investors Weigh US Election Risks
(RTTNews) - French stocks declined on Tuesday as investors fretted about the political landscape in France and the likely impact on Eurozone growth, if Donald Trump were to win the presidential election.
The euro zone's gross domestic product could take a hit, while inflation could increase if Trump were to become president again, according to Goldman Sachs.
Trade policy uncertainty, added defense and security pressures, and spillover effects from U.S. domestic policies could affect Europe, the economists said.
The benchmark CAC 40 was down 47 points, or 0.6 percent, at 7,585 after losing 1.2 percent the previous day.
SCOR plummeted 28 percent. The reinsurer issued a profit warning, saying it currently expects L&H insurance service result for the second quarter to be a loss of 0.4 billion euros, primarily driven by updates on reserves, and continued negative experience variance.
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