LVMH is trading 3.05% down at $415.00 as luxury shares face pressure amid concerns over Chinese consumer spending and Beijing’s tax crackdown on wealthy consumers.
- Reuters reported the concerns were weighing on the sector ahead of LVMH’s third-quarter update.
- The Q3 revenue release was scheduled for after the Paris market close on October 12, so it was not yet a confirmed results-driven move.
- U.S. indices were mixed, offering no strong broad-market explanation.