BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks tumbled on Tuesday as a lack of fresh catalysts prompted investors to lock in some profits after recent strong gains on hopes of a relatively quick global economic recovery.
Growth worries swayed market mood after the World Bank warned the global economy will shrink by 5.2 percent this year, representing the deepest recession since the Second World War.
In economic releases, the euro area economy contracted less-than-expected in the first quarter, the latest estimate by Eurostat showed.
The bloc's quarterly reading came in at -3.6 percent, versus -3.8 percent reported in the preliminary reading
The benchmark CAC 40 fell 107 points, or 2.1 percent, to 5,068 after declining 0.4 percent in the previous session.
Banks paced the declines, with BNP Paribas and Credit Agricole falling over 6 percent. Societe Generale shares slumped 8.4 percent.
Copyright RTT News/dpa-AFX