China's Coronavirus Scare Impacting European Luxury Goods

European luxury stocks fell on Tuesday over fears that the coronavirus virus outbreak in China could hurt sales.

The slump of high-end brands comes after many had managed to weather months of protests in Hong Kong.

Chinese shoppers account for 35% of global luxury goods sales and 90% of last year’s growth in the market.

The numbers illustrate the damage that could be done to luxury goods companies if health fears deter shopping.