France: CAC 40 Plunges to 1-Month Lows.

The CAC 40 dropped 1.8% to around 8,175 on Tuesday, extending the previous session’s losses to hit a one-month low as the global sell-off deepened amid fears of a prolonged Middle East conflict. The US military is expected to intensify strikes on Iran, while a senior Iranian official warned that ships attempting to transit the Strait of Hormuz, a key chokepoint for roughly one-fifth of global oil shipments, could be targeted, raising global supply risks. The escalation pushed energy prices higher, putting pressure on inflation and potentially prompting a more hawkish stance from the European Central Bank. Luxury and banking stocks were still among the hardest hit, led by LVMH (-1.9%), Kering (-3.3%), and BNP Paribas (-4%). Meanwhile, higher oil prices drove energy giant TotalEnergies up 0.6%, while Thales added 0.7% after the aerospace and technology firm reported a slightly higher-than-expected annual core profit.