周三，CAC 40指数下跌0.8%，至7279点，打破了连续两个交易日的涨势，对贸易紧张局势升级的担忧再次打压市场情绪。美国政府禁止英伟达向中国出售其H20芯片，这标志着美中之间持续的技术僵局显著升级。更令人不安的是，投资者消化了一批新的公司收益，ASML报告了令人失望的第一季度净预订，并承认无法量化新宣布的关税的影响。与此同时，人们的注意力也转向了欧洲央行周四即将作出的货币政策决定，市场普遍预计将降息25个基点。该指数中的大多数股票交易价格下跌，Stellantis NV领跌，下跌3.7%，其次是Edenred（-2.8%）、Publicis（-2.7%）和意法半导体（-2.1%）。

The CAC 40 fell 0.8% to 7,279 on Wednesday, breaking a two-session winning streak, as renewed concerns over escalating trade tensions weighed on sentiment. The US government prohibited Nvidia from selling its H20 chip to China, marking a significant escalation in the ongoing tech standoff between the US and China. Adding to the unease, investors digested a fresh batch of corporate earnings, with ASML reporting disappointing Q1 net bookings and acknowledging it was unable to quantify the impact of the newly announced tariffs. Meanwhile, attention is also turning to the European Central Bank's upcoming monetary policy decision on Thursday, with markets widely expecting a 25 bps rate cut. Most stocks on the index traded lower, with Stellantis NV leading the losses, down 3.7%, followed by Edenred (-2.8%), Publicis (-2.7%), and STMicroelectronics (-2.1%).

在巴黎，CAC 40指数下跌了52点。领跌的是Stellantis NV（-3.68%）、Edenred（-3.62%）和Publicis（-2.66%）。涨幅最大的是家乐福（1.00%）、保乐力加（0.81%）和奥兰治（0.77%）。

In Paris, the CAC 40 Index is dropping 52 points. Leading the losses are Stellantis NV (-3.68%), Edenred (-3.62%) and Publicis (-2.66%). Top gainers were Carrefour (1.00%), Pernod Ricard (0.81%) and Orange (0.77%).

在巴黎，CAC 40指数周二上涨了65点，涨幅为0.90%。涨幅最大的是圣戈班（5.85%）、Stellantis NV（5.59%）和法国兴业银行（4.89%）。最大的亏损来自LVMH（-7.91%）、开云集团（-4.77%）和保乐力加集团（-2.31%）。

In Paris, the CAC 40 Index went up by 65 points or 0.90 percent on Tuesday. Top gainers were Saint-Gobain (5.85%), Stellantis NV (5.59%) and Societe Generale (4.89%). Biggest losses came from LVMH (-7.91%), Kering (-4.77%) and Pernod Ricard (-2.31%).

CAC 40指数周二上涨0.9%，收于7335点，从早盘下跌中反弹，但仍落后于地区同行，因为对美国汽车关税可能暂停的乐观情绪被奢侈品行业的大幅下跌部分抵消。特朗普总统的言论提振了投资者情绪，他建议暂时免除进口汽车和零部件的关税，让汽车制造商有更多时间扩大国内生产。Stellantis领涨，飙升6.6%，而包括安盛（+2.1%）、法国巴黎银行（+3%）、农业信贷银行（+2.2%）和法国兴业银行（+5%）在内的主要金融股也强劲上涨。然而，奢侈品股的大幅下跌缓和了涨势。路威酩轩集团股价下跌7.8%，徘徊在2020年12月以来的最低水平附近，此前该集团第一季度收入同比下降3%，与2%的增长预期相反。更广泛的行业也紧随其后，开云集团下跌5.2%，欧莱雅下跌2%。

The CAC 40 rose 0.9% to close at 7,335 on Tuesday, rebounding from early session losses but still lagging behind regional peers, as optimism over a potential pause in U.S. auto tariffs was partially offset by sharp declines in the luxury sector. Investor sentiment was lifted by President Trump’s remarks suggesting temporary exemptions on tariffs for imported vehicles and parts to allow automakers more time to expand domestic production. Stellantis led the advance, surging 6.6%, while major financials including AXA (+2.1%), BNP Paribas (+3%), Crédit Agricole (+2.2%), and Société Générale (+5%) also posted strong gains. However, the rally was tempered by steep losses in luxury stocks. LVMH tumbled 7.8%—hovering near its lowest level since December 2020—after posting a 3% year-over-year drop in Q1 revenue, contrary to expectations of a 2% increase. The broader sector followed suit, with Kering down 5.2% and L’Oréal slipping 2%.