NextFin News -- European luxury stocks have fallen to their lowest level since October 2022, due to worries about inflation, interest rates, and the outlook for the tourism industry and discretionary spending amid the Iran war that started in late February.  The basket index of luxury stocks tracked by Goldman Sachs fell by 3.8% to its lowest level since October 2022. Hermès led the decline with a drop of 5.8%, marking its largest single-day decrease since April 2025, and the stock closed at a new low since October 2023. Other luxury stocks also experienced declines, with LVMH down 1.8%, Kering down 4.6%, and Richemont down 4.5%, as rising energy costs have raised concerns about squeezed real incomes and a slowdown in tourist traffic.