The Paris Bourse accelerated its fall, dropping -1.7% below 7,100pts (to 7,090) in its 3rd straight session of decline.
The CAC40 is back to its March 28 levels, almost 500pts below its April 19 highs (7,581).581).
The euro-Stoxx50 is no better off, with -1.6% at 4,220pts: an important short-term support has been broken.
With the last 3 sessions completely at odds with macro news, the (calendar) month of May should end with a loss of over 3%.
On Wall Street, the downturn is only 0.8% on the S&P and Nasdaq, after a wind of euphoria blew over the "technos" in May: "May turned out to be a very interesting month, with huge gains for technology stocks (such as Nvidia with +40% in May, +175% since January 1) and a decline in defensive stocks, unless something unlikely happens today", comment the teams at Danske Bank.
A decisive vote is expected today in the House of Representatives, where the Republicans have the majority, before the bill is submitted on Friday to the Senate, which is narrowly controlled by the Democrats.

The clock is ticking, as the Treasury Department estimates that 'date X' - the date from which the government will run out of cash - is set for Monday June 5.

The market's gloom is rather paradoxical this Wednesday, given that the risk of a shutdown between now and June 5 is 90% averted in the United States, while the day's inflation figures are reassuring.
Germany's inflation rate (CPI) fell to 6.1%, according to the Federal Statistical Office (after +7.2% and +7.4% in April and March respectively).
The slowdown in annual inflation is said to have been helped by a rise of only 2.6% in energy prices, thanks to a base effect linked to their surge last year as a result of Russia's attack on Ukraine.
"The difficulty at the moment is to gather enough elements to boost the Parisian index", admit analysts at Kiplink Finance.
In France, inflation slowed to 5.1%, marking a clear deceleration after +5.9% the previous month.
Growth (GDP) in the 1st quarter came out at 0.2% (no recession, unlike in Germany) according to detailed CVS-CJO data from INSEE, following stagnation in the last quarter of last year.
Lower-than-consensus figures, such as those unveiled in Spain yesterday, could encourage a further decline in government bond yields and allay fears about European Central Bank (ECB) rates.

German Bunds are down -7pts to 2.27%, our OATs are erasing -6pts to 2.842%, US T-Bonds -4.2pts to 3.66%.


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