The CAC 40 dropped 1.7% to close at 7,976 on Monday, extending losses from the previous week amid uncertainty over US–Iran tensions. Iran’s navy said it turned away enemy warships in the Strait of Hormuz, while US Central Command stated no US ships had been hit. Oil prices jumped earlier in the session, raising concerns about the impact of higher crude costs on global inflation. Risk aversion weighed on luxury stocks, with L’Or