BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks fell sharply on Thursday to extend losses from the previous session after the U.S. Federal Reserve warned of a slowdown in the pace of the economic recovery in the wake of the coronavirus pandemic.
The U.S. central bank kept its monetary policy unchanged, but highlighted the recent worsening of the economic data amid the ongoing crisis.
The Fed cautioned that the world's largest economy was still a long way from a complete recovery, which depends prominently on the course of the virus.
Stretched valuations for most high-quality growth stocks is also another big worry for markets.
The benchmark CAC 40 dropped 65 points, or 1.2 percent, to 5,394 after ending down 1.2 percent in the previous session.
Copyright RTT News/dpa-AFX