Paris (AFP)

The Paris Stock Exchange saw its debacle rise on Friday in the early afternoon, losing just over 3% after the publication of misguided US indicators, in a market already burdened by the resumption of Sino-US trade conflict .

The CAC 40 index fell to 5,389.53 points, before reducing its losses a little. At 15:13 (12H13 GMT), it was still down 134.62 points (-2.42%) to 5,422.79 points, in a trade volume expanded 2.8 billion euros. The day before, he had finished up 0.70%.

The Parisian coast was brutally propelled into the red at the opening, in the wake of Wall Street, after Donald Trump has relaunched hostilities with China by announcing the extension to September 1 to all Chinese customs products. additional.

On Friday morning, Beijing countered that he would have no choice but to retaliate if Donald Trump put his threat into action.

"This is again an escalation" of Sino-US trade tensions, which "shows the lack of coherence of Trump's communication" when only a few days ago, the US administration indicated that "the discussions are were going well, "said AFP analyst Alexandre Baradez, an analyst at IG France.

The expectation of a trade agreement and an accommodating gesture of monetary policy meetings was, according to him, the two pillars of the rise recorded by the stock markets since the beginning of the year.

However, "we had the answers to these two elements in the space of a few days: the Fed took a minimalist decision without serving more than what the market expected, and Trump disappoints on the commercial side," added Mr. Baradez.

In this context of exacerbated risk aversion, the publication of subdued US indicators in the early afternoon also weighed.

The US trade deficit narrowed in June as a result of a drop in imports, particularly from China and the European Union, but exports fell further, a sign of the economic slowdown. .

In addition, job creation in the United States fell sharply in July while the unemployment rate remained stable at 3.7%, according to data released Friday by the Ministry of Labor, which also revised down sharply the number of jobs created in June.

"We realize that the market is starting to integrate the fact that if statistics are bad, or worse, in a context where trade tensions resume, there will not necessarily be a miracle to expect from the Fed," he said. estimated Mr. Baradez.

© 2019 AFP