CAC 40 Drops Nearly 2%

2026-03-02 08:44 By Joshua Ferrer 1 min. read

The CAC 40 plunged 1.9% to around 8,400 on Monday, retreating further from a record high touched last week, as escalating geopolitical tensions in the Middle East rattled global markets.

Coordinated US–Israel strikes on Iran and Tehran’s retaliatory actions heightened fears of a broader regional conflict, driving a sharp rise in energy prices and prompting a broad risk-off move across equities.

Losses were widespread, with cyclical and growth-sensitive sectors, such as luxury and banking stocks among the hardest hit.

Index heavyweights LVMH, Hermes, and Loreal led the declines, down 3% to 4% each, while BNP Paribas fell 3.5%.

Meanwhile, defensive and energy names outperformed, with Thales and Dassault Aviation up 5.4% and 3.5%, respectively, while Total Energies advanced 6.5% amid a spike in oil prices.

On the data front, markets also await upcoming PMI numbers this week.



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CAC 40 Drops Nearly 2%
The CAC 40 plunged 1.9% to around 8,400 on Monday, retreating further from a record high touched last week, as escalating geopolitical tensions in the Middle East rattled global markets. Coordinated US–Israel strikes on Iran and Tehran’s retaliatory actions heightened fears of a broader regional conflict, driving a sharp rise in energy prices and prompting a broad risk-off move across equities. Losses were widespread, with cyclical and growth-sensitive sectors, such as luxury and banking stocks among the hardest hit. Index heavyweights LVMH, Hermes, and Loreal led the declines, down 3% to 4% each, while BNP Paribas fell 3.5%. Meanwhile, defensive and energy names outperformed, with Thales and Dassault Aviation up 5.4% and 3.5%, respectively, while Total Energies advanced 6.5% amid a spike in oil prices. On the data front, markets also await upcoming PMI numbers this week.
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