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The world’s stock markets saw all their indicators in the red. In Paris, the CAC 40<\/strong> started the month of September down 1.48% to 6,034.31 points. The EuroStoxx 50<\/strong> index fell by 1.72% and the FTSEurofirst<\/strong> 300 by 1.77%.<\/p>\n <\/p>\n In Europe, all the main compartments of the Stoxx 600<\/strong> ended in the red, whether raw materials (-3.81%) or the tourism and leisure sector (-3.77%) which show the largest declines. The mining groups Arcelor Mittal, Rio Tinto and Glencore<\/strong> gave up 3.42% to 6.61%, and Total Energies, BP and Eni<\/strong> fell back by 0.06% to 0.94%.<\/p>\n <\/p>\n Wall Street<\/strong>, after four consecutive sessions of decline, saw red at the opening: the Dow Jones<\/strong> fell by 0.47%, the S&P 500 by 0.69% and the Nasdaq<\/strong> by 1%. The Tokyo Stock Exchange<\/strong> ended down 1.53% and in China, Shanghai<\/strong> gave up 0.54% and Hong Kong 1.79% after the lockdown in Chengdu<\/strong>.<\/p>\n <\/p>\n This news “suggests a slowdown in demand for several assets in the world’s second largest economy,”<\/em> said Pierre Veyret<\/strong>, analyst at Active Trade<\/strong>.<\/p>\n <\/p>\n However, the main European stock markets are expected to rise this morning at the opening<\/strong>, in the wake of the rebound of the previous day of the Dow Jones<\/strong> and the S&P-500<\/strong> and before the publication of the monthly report of the U.S. Department of Labor on employment, unemployment and wages at noon.<\/p>\n <\/p>\n <\/p>\n Chengdu, one of China’s largest cities, announced Thursday containment measures affecting 21.2 million residents<\/strong>, while in Shenzhen<\/strong>, the main hub of high-tech industries in southern China, authorities tightened health restrictions to combat a new rise in cases.<\/p>\n <\/p>\n This is very bad news for the luxury goods industry, which is suffering from these confinements in China. Indeed, the country is a market where luxury companies make a significant part of their profits. As a result, Hermes<\/strong> fell by 2.53% to 1,250 euros, LVMH<\/strong> by 2.27% to 632.80 euros, Kering<\/strong> by 2.15% to 492.20 euros. The Pernod Ricard<\/strong> group, meanwhile, advanced 0.46% thanks to its better than expected annual results.<\/p>\n <\/p>\n <\/p>\nDecline of luxury giants<\/h2>\n