jordan pulse -

Shares of LVMH, the world’s largest luxury conglomerate, plunged over 8% on Wednesday, wiping approximately 24 billion euros from its market capitalization. The sharp decline followed fourth-quarter results that dashed hopes for a quick recovery in the luxury sector. CEO Bernard Arnault struck a cautious tone, citing "geopolitical crises and economic uncertainty." The slowdown is primarily attributed to stagnant sales in the critical Chinese market, which serves as a bellwether for the entire industry. The news also dragged down shares of rivals Kering (Gucci) and Hermes