BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks fell sharply on Thursday after elevated U.S. inflation bolstered the case for aggressive monetary tightening over the next three FOMC meetings.
Adding to worries, Ukraine stopped the flow of Russian natural gas on Wednesday through a hub that feeds European homes and stoves. This is the first time that exports via Ukraine have been disrupted since the invasion.
The benchmark CAC 40 tumbled 144 points, or 2.30 percent, to 6,125 after climbing 2.5 percent in the previous session.
Bouygues declined 1.5 percent. The telecommunications, media and construction company reported net loss of 131 million euros for its first quarter, compared to last year's profit of 21 million euros.
Franco-Italian chipmaker STMicroelectronics rallied 3.6 percent after it outlined a path to achieve more than $20 billion in annual sales by 2027 at the latest.
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