Europe’s Once-Hot Luxury Stocks Have Shed $180 Billion in 2026

One of Europe’s stock market pillars is crumbling as a selloff in its world-leading luxury sector deepens on signs that the Middle East war will delay a recovery in high-end spending.

Europe’s 10 publicly-traded luxury firms have shed $176 billion in market capitalization since the start of the year, according to data compiled by Bloomberg. LVMH — the industry’s bellwether — alone accounts for almost $100 billion of the wipeout. By comparison, the wider Stoxx 600 index is up 4.6% over the period.