French stocks continued their downward trajectory on Wednesday, extending losses from the prior session, as concerns over Donald Trump’s presidency cast a shadow on the potential for U.S. interest rate cuts in 2024.
The market phenomenon dubbed the "Trump trade" has resurged following Trump's selection of Ohio Senator J.D. Vance as his running mate for the upcoming 2024 presidential election.
Additionally, Trump made headlines by suggesting Taiwan should compensate the U.S. for its defense efforts, arguing that the country "doesn't give us anything" in return.
The CAC 40 index saw a decline of 27 points, or 0.4%, closing at 7,552 after a previous session drop of 0.7%.
On a corporate front, shares of Pernod Ricard increased by 1.3%. The company has finalized a deal to sell its international wine brands to Australian Wine Holdco Limited, a consortium of global institutional investors and the owner of Accolade Wines.
