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CAC 40 Tumbles Amid Mounting Trade Fears

French stocks tumbled on Wednesday on worries that tit-for-tat tariffs between the U.S. and China could hurt global growth.

Beijing vowed to take countermeasures after the U.S. proposed tariffs on an extra $200 billion of Chinese goods.

The benchmark CAC 40 was down 57 points or 1.06 percent at 5,376 in opening deals after gaining 0.7 percent on Tuesday.

Tariff worries pulled down automakers, with Renault losing 2.3 percent and Peugeot moving down 1.7 percent.

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