European shares decline as luxury sector slump offsets tech gains

LVMH CEO bernard arnault stated today, January 28, 2026, that he was cautious about the year ahead, a remark that triggered a 7.3% drop in the company's shares. This decline significantly weighed on luxury stocks and contributed to a 0.5% fall in the pan-European STOXX 600 index. The market movement reversed a two-day rally in European equities as investors in the European Union EU and the United States US turned their attention to corporate earnings and the upcoming U.S. Federal Reserve policy decision.