Europe’s luxury sell-off deepens after Goldman, Jefferies warnings

Shares of European luxury goods makers are falling again as analysts at Goldman Sachs Group Inc. and Jefferies International Ltd. warn of further profit losses due to unrelenting demand in China.

Shares tracked by Goldman Sachs fell 3.2% to their lowest since late 2022 after analysts at the bank predicted the industry would not grow this year, down from a previous estimate of a 5% expansion.