European luxury goods stocks fell sharply. Goldman Sachs's basket index for European luxury goods manufacturers fell 3.5%; if the decline continues, the basket index will close at its lowest level since November 2022. Pandora fell 6.0%, Swatch fell 6.7%, Lifeng Group fell 6.0%, Burberry 5.6%, Moncler fell 3.6%, Cucinelli fell 2.9%, Hermes fell 2.9%, Kering Group fell 3.5%, Dior fell 2.7%, and LVMH fell 2.3%.

European luxury goods stocks fell sharply. Goldman Sachs's basket index for European luxury goods manufacturers fell 3.5%; if the decline continues, the basket index will close at its lowest level since November 2022. Pandora fell 6.0%, Swatch fell 6.7%, Lifeng Group fell 6.0%, Burberry 5.6%, Moncler fell 3.6%, Cucinelli fell 2.9%, Hermes fell 2.9%, Kering Group fell 3.5%, Dior fell 2.7%, and LVMH fell 2.3%.