The CAC 40 dropped 1.4% to 7,663 on Friday, extending losses from the previous session and hitting its lowest level in a month. Market sentiment deteriorated after US President Donald Trump imposed sweeping new tariffs, including a global 10% baseline, retaliatory duties of up to 41% on nations without formal trade deals, and a 40% levy on goods suspected of tariff circumvention. Europe now faces a 15% tariff on exports to the US following a last-minute agreement. Meanwhile, corporate earnings continued to unfold. Teleperformance plunged 17% to its lowest level since June 2016 after reporting Q2 results and a cut to its 2025 growth forecast. Moreover, Axa slumped 6.2% to its weakest point since April after disappointing H1 profits. Saint-Gobain declined 4.5%, also to a one-month low, following sales that narrowly missed expectations. Lastly, Engie dropped 3.8% to its lowest since May, amid a decline in earnings. For the week, the CAC 40 is on track for a substantial loss.