CAC 40 Falls on Chip Selloff and US-Iran Tensions

2026-07-17 15:53 By Isabela Couto 1 min. read

The CAC 40 fell 0.5% to close at 8,339 on Friday as a broad-based semiconductor selloff swept across global markets and weighed heavily on technology stocks.

Concerns over the sector resurfaced amid elevated AI spending and stretched valuations.

STMicroelectronics shed 3.9%.

Meanwhile, investors continued to monitor developments in the escalating US-Iran conflict, which pushed oil prices higher and renewed concerns over inflation and the interest rate outlook.

Markets largely expect the ECB to keep borrowing costs unchanged next week before potentially delivering a final rate cut in September, when the central bank will release updated quarterly projections.

Financials posted losses, with BNP Paribas down 1.0%, Crédit Agricole down 0.7%, and Société Générale losing 1.5%.

Luxury stocks also traded lower amid higher risk aversion, with LVMH down 1.6%, Hermès losing 1.5%, and Kering shedding 1.2%.

In contrast, TotalEnergies gained 1.3% on higher oil prices.



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