Paris’s CAC 40 fell 0.6% to close at 7,828 on Wednesday, reversing gains from the previous session as investors digested comments from Federal Reserve Chair Jerome Powell. Powell signaled caution on further policy easing, citing uncertainty over timing as policymakers balance inflation with labor market weakness. Market also focuses on the Russia-Ukraine war, following Trump’s comments that Ukraine could retake Russian-occupied territory. Luxury mega-caps led the decline including LVMH (-2.7%), Hermes (-3.1%), L'Oreal (-2%), and EssilorLuxottica (-1.8%). Meanwhile, Sanofi rose 0.3% after boosting its venture capital arm, Sanofi Ventures, with an additional $625 million, bringing total investments since 2012 to over $800 million across more than 70 biotech and AI/digital health companies.