French stocks are down as trade war concerns rise due to Trump’s threat of a 30% tariff on EU imports. The EU has prepared a €21 billion tariff package for American goods if trade talks fail. The CAC 40 is down 0.52%. Macron calls for increased defense spending against Russia, benefiting defense-related stocks. Hermes International is the biggest loser, while Thales is the top gainer. Other notable losers include Pernod Ricard, LVMH, and STMicroElectronics. Gainers include Orange, Danone, and Michelin. Overall, the market is reacting to geopolitical tensions and trade uncertainties.

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