India, Aug. 1 -- French stocks are reeling under a severe selling pressure on Friday with U.S. President Donald Trump's announcement of sweeping new tariffs hurting investor sentiment.
Trump has imposed retaliatory duties of upto 41% on nations with whom U.S. has no formal trade deals. On European exports to U.S., a 15% tariff has been imposed.
Pharma stocks were coming under heavy selling pressure after U.S. President Donald Trump asked 17 major global pharmaceutical companies to lower drug prices in the U.S.
Investors are also digesting the latest batch of earnings updates, and some economic reports.
The benchmark CAC 40 was down 147.94 points or 1.9% at 7,624.03 a few minutes ago.
Teleperformance is tanking more than 16% after the c...