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Published 2 years ago • loading... • Updated 2 years ago

The theory luxury stocks are Europe’s strongest response to U.S. tech stocks is being put to the test

Summary by Ground News

$180 billion has already been wiped out since a recent peak in July, leaving gains for the year hanging by a thread. A stuttering recovery in China, the source of as much as a fifth of European luxury retailers sales, has dealt the biggest blow to the sector. LVMH CEO Bernard Arnault's status as the world's wealthiest person has been a high-profile casualty.

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The theory luxury stocks are Europe’s strongest response to U.S. tech stocks is being put to the test

Drugmaker Novo Nordisk leapfrogged slumping luxury giant LVMH to become Europe’s most valuable company.

2 years ago·New York, United States

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Fortune broke the news in New York, United States 2 years ago on Sunday, September 10, 2023.

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