Luxury stocks slump as Middle East conflict risks one of the sector's 'few bright spots'

Luxury stocks were among the hardest hit sectors early Tuesday, with European markets heading for another day of losses as the conflict in the Middle East intensified overnight.Shares of conglomerate LVMH, Gucci-owner Kering, and British outerwear maker Burberry were among the worst performers, with week-to-date losses approaching 10% each. The wider European blue-chip index, Stoxx 600, was down nearly 3% Tuesday, after falling 1.6% on Monday.The Middle East has been a driver of growth in the sector, which ...