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CAC 40 Extends Slide Amid Italy Worries

(RTTNews) - French stocks were moving lower on Friday as surging U.S. bond yields on the back of upbeat data and hawkish comments from Fed officials spurred expectations of further policy tightening.

Investors await the U.S. jobs report, due later in the day for additional clues on the pace of interest rate hikes from the Federal Reserve.

Traders also watched developments in Italy after Deputy Prime Minister Matteo Salvini accused top European Commissioners of wrecking Europe.

"We are trying to change this Europe from the inside and we hope that the May European elections will give us a hand," Salvini reportedly said.

The benchmark CAC 40 was down 28 points or 0.53 percent at 5,382 in opening deals after tumbling 1.5 percent on Thursday.
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