The star CAC 40 index fell 172.34 points to 6,086.02 points.

Friday, he had finished down 1.73%, concluding a third week in a row in the red (-4.22%).

Compared to its peak in early January, the Parisian rating has even lost 17.5% of its value.

The markets are suffering from a global "negative context", underlines Mikaël Jacoby, head of continental Europe brokerage at Oddo Securities, explaining that "stagflation", a situation of stagnant economic growth and high inflation, risks being part of the context. of the next few months.

"There is nothing new today but we are in an environment of concerns, which have taken precedence over the indices for a week", comments Mikaël Jacoby.

Indeed, investors are facing a combination of unfavorable elements for global growth: high and tenacious inflation, the Russian-Ukrainian conflict which is weighing down the European economy, health measures in China which are disrupting supply chains and monetary tightening central banks.

In China, millions of Beijingers are working from home on Monday following a new tightening of the anti-Covid measures.

The economic effects of the zero-Covid policy are already being felt: in two years, never have exports from China grown so weakly (+3.9% in April).

Moreover, the geopolitical situation in Ukraine is stagnating.

Russian President Vladimir Putin remained on his positions Monday, reaffirming that his army was fighting in Ukraine to defend "the fatherland" against an "unacceptable threat".

Western countries continue to harden their stance: the G7 countries, which on Sunday accused Vladimir Putin of covering Russia "in shame" with its actions in Ukraine, pledged to wean themselves off Russian oil but without giving a timetable precise.

Discussions are continuing in particular within the Member States of the European Union: the President of the European Commission is also going to Hungary on Monday, where President Viktor Orban is blocking the proposed embargo on Russian oil.

In an attempt to curb inflation that is reaching record levels, central banks are raising their key rates and reducing their purchases of assets on the markets, measures that risk weakening global growth if they are poorly dosed.

First consequence, bond rates have reached levels not seen for years.

© 2022 AFP