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Oct 16 Reuters Europe39;s tech and luxury stocks slumped on Wednesday after disappointing results from industry heavyweights ASML and LVMH, while caution loomed ahead of the European Central Bank39;s policy decision.

The continentwide STOXX 600 index was down 0.3, retreating further from the over twoweek high hit early on Tuesday.

It could be the start of a minor reversal, but we still see investors39; appetite hold at current levels, if not go further, said Daniela Hathorn, senior market analyst at Capital.com.

ASML, the world39;s biggest chipmaking equipment manufacturer, shed another 5 and dragged the tech index down 1.3 to a onemonth low. Its weak 2025 sales forecast on Tuesday sparked its steepest oneday decline in four years and triggered a selloff in chip stocks globally.

The luxury sector did not offer any solace either, as France39;s LVMH dropped 4.5 after reporting a fall in thirdquarter sales, prompting the French CAC 40 index to underperform most major European bourses.

LVMH39;s earnings justify the concerns over Chinese spending and are likely to weigh on global equities, Hathorn said.

Peers Gucciowner Kering, Birkin bagmaker Hermes and Cartierowner Richemont fell around 2 each. The broader luxury and personal and household goods indexes shed about 2 each.

Both the…