Luxury goods stocks in Europe suffered sharp losses at the start of Tuesday's trading, as markets continue to decline amid escalating conflict in the Middle East, increasing investor anxiety and uncertainty. Shares of LVMH Moët Hennessy Louis Vuitton, Kering, which owns Gucci, and British fashion house Burberry were among the worst performers, with each down nearly 10% since the beginning of the week. The European Stoxx 600 index fell about 3% on Tuesday, after dropping 1.6% in Monday's session. This decline comes as the Middle East becomes a driver of growth.
