The CAC 40 slid 0.6% to close at 7,722 on Wednesday, its fourth straight day of declines, as a wave of disappointing corporate updates collided with fresh US tariff threats. Renault tumbled 18.5 % to its weakest level since February 2024 after cutting its full-year guidance and releasing H1 results that missed forecasts, while Stellantis NV dropped 6.1 % on news it would halt development of hydrogen fuel-cell technology. Industrial names also underperformed, with Saint-Gobain off 2.4 % and ArcelorMittal down 2.9 %, and luxury group Kering shed 2.3 %. Adding to the pressure, President Trump warned he may impose tariffs on pharmaceuticals by month-end and hinted at levies on semiconductors next, reviving concerns that an escalating trade war could erode European exporters’ margins and growth prospects.