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Richemont Drops on Signs Luxury Demand Falling in US, China

The Swiss luxury goods group reported quarterly sales that raised concerns over how weak the US and China markets might get.
The exterior of a Cartier store showcasing jewels in the window display and the stores signage at the top.
Shares in Cartier-owner Richemont slumped after reporting shrinking US sales. (Getty Images)

Richemont led luxury goods stocks lower amid concerns that demand in the US and China, two of the biggest markets for the industry, is starting to sputter.

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