CAC 40 Declines As Bond Yields Surge

(RTTNews) - French stocks tumbled on Tuesday as robust gains in March retail sales figures combined with upward revisions in the prior two months added to concerns about the outlook for U.S. interest rates.

Investors also pondered over a wider Middle East conflict. Israel is weighing possible response actions to Iran's aggression, but it is not clear if a decision has been made.

The benchmark CAC 40 was down 104 points, or 1.30 percent, at 7,941 after edging up 0.4 percent the previous day.

Amundi fell 1.5 percent. The subsidiary of banking major Credit Agricole SA and Victory Capital Holdings Inc., has signed a pact to combine Amundi US into Victory Capital.

Vallourec was down more than 2 percent. The steel tube products manufacturing company said it launched offering of $820 million Senior Notes due 2032.