{"id":146185,"date":"2024-07-19T15:56:56","date_gmt":"2024-07-19T13:56:56","guid":{"rendered":"https:\/\/luxus-plus.com\/stock-market-update-markets-down-on-worries\/"},"modified":"2024-07-19T15:57:02","modified_gmt":"2024-07-19T13:57:02","slug":"stock-market-update-markets-down-on-worries","status":"publish","type":"post","link":"https:\/\/luxus-plus.com\/en\/stock-market-update-markets-down-on-worries\/","title":{"rendered":"[STOCK MARKET UPDATE] Markets down on worries "},"content":{"rendered":"

European markets fell sharply on Friday, marked by persistent economic and political concerns. This instability is reflected in falling profits for luxury giants ,<\/strong><\/b> while a global IT blackout is exacerbating investors’ fears.<\/h4>\n

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European stock markets began Friday on a negative note, influenced by economic and political concerns. In Paris, the CAC 40<\/strong><\/b> index opened down 0.27% at 7,565.88 points<\/strong><\/b>, and continued to fall to 7,536.3 points by 9:55 a.m.<\/strong><\/b>, down 0.66%<\/strong><\/b>. At around 2 p.m., the flagship index stood at 7,549.98 points, down 0.48%<\/strong><\/b>.<\/p>\n

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Frankfurt’s DAX<\/strong><\/b> index gave up 0.46%<\/strong><\/b> in early trading, while the London and Milan stock exchange<\/strong><\/b> indices were also down. he decline was due in part to \u201ctechnical problems\u201d<\/em> encountered by London stock exchange operator LSE, according to Bloomberg.<\/p>\n

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This negative trend could round off a difficult week, marked by a 2.<\/strong><\/b> 5% weekly decline for the CAC 40, partly due to the mediocre performance of companies in the luxury goods sector, affected by concerns about the Chinese economy.<\/p>\n

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Indeed, falling profits at Swatch<\/strong><\/b><\/a> and profit warnings from Burberry<\/strong><\/b><\/a> and <\/strong><\/b>Hugo Boss<\/strong><\/b><\/a> sent the European giants of the sector tumbling, causing them to lose over 40 billion euros<\/strong><\/b> in capitalization in two days. \u00c0 World leader LVMH<\/strong><\/b> alone saw its value fall by more than 18 billion euros<\/strong><\/b>.<\/p>\n

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Global IT year<\/h2>\n

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