At 11 a.m., the index fell by 0.37% to 6,663.76 points after three consecutive declines.

Economic expectations point to a cooling of the economy in the coming months.

The CEO of the American bank JPMorgan Chase, Jamie Dimon, notably warned on Tuesday, on the CNBC channel, that inflation and the measures of the American Federal Reserve to counter it "could well derail the economy and cause a moderate recession. or severe".

The chief executive of another bank, Goldman Sachs, David Solomon, went in the same direction, and said to expect “a turbulent period” on the economic level.

Those concerns come as the Federal Reserve holds its monetary policy meeting a week from now and better-than-expected US services and jobs data has fueled fears that the US central bank will need to stay aggressive for longer.

The New York Stock Exchange was again concerned on Tuesday about the risk of a recession in the United States next year amid the tightening of credit conditions by the Fed to control inflation.

On Tuesday, the Australian central bank raised its key rate by 0.25 percentage points as expected and the central bank ball continued on Wednesday.

India's central bank raised its key rate for the fifth time this year, bringing it to 6.25%, an increase of 35 basis points, while inflation in the country "is expected to moderate".

Investors are awaiting rate decisions from the Bank of Canada and Brazil later in the day.

Sanofi leads the CAC 40 after a legal victory

The pharmaceutical group climbed 5.84% to 90.38 euros, driven by a legal victory in the United States in the case of Zantac, a treatment long sold in North America against heartburn but withdrawn from the market in 2019 after studies have established that this drug breaks down in the body into a carcinogenic component.

Sanofi, which marketed the product like other laboratories, said in a press release that it was "satisfied" with the Florida court's decision "that there is insufficient evidence that ranitidine can cause the cancers alleged by the plaintiffs".

"This decision significantly reduces the scope of the litigation, potentially by more than 50%, and supports Sanofi's scientific defenses against the allegations made", reacted the laboratory.

The litigation runs on several American states.

Airbus rickety

Airbus (-1.50% to 109.18 euros) will "just miss" its target of 700 aircraft delivered in 2022, the European aircraft manufacturer said in a press release on Tuesday.

However, the group maintained its financial targets for 2022.

Air Liquide and Alstom degraded

Air Liquide fell 0.93% to 138.20 euros after a lowering of the recommendation on the title to "neutral" against "overweight" by JP Morgan, according to Bloomberg.

Alstom (-2.28% to 24.04 euros) also suffered from a drop in recommendation to "online weighting" against "overweight" by Morgan Stanley, according to Bloomberg.

© 2022 AFP