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Global Market Rout Darkens Outlook for European Luxury Labels

One Wall Street analyst now expects global sales of luxury goods to fall by as much as 2 percent this year, marking the industry’s longest downturn in over two decades.
LVMH Chairman and CEO Bernard Arnault currently intends to hold the stock only as an investment.
LVMH Chairman and CEO Bernard Arnault; LVMH shares are now down 2 percent since the start of the year. (Getty Images)

Growing fears that Donald Trump’s tariff blitz will plunge the world into recession are dashing hopes in the $400-billion-a-year luxury industry that wealthy Americans might help to pull it out of the biggest slump in years.

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