Why LVMH Stock Slumped by More Than 3% Today

A surprise election result in its home country dinged the stock of luxury goods specialist LVMH Moët Hennessy Louis Vuitton (LVMUY -3.34%) on Monday. The company saw the price of its U.S.-listed shares dip by over 3% on the day, while the bellwether S&P 500 index crept up to close 0.1% higher. Investors dislike uncertainty, and the weekend parliamentary elections in France resulted in quite a bit of it the following day. The hard-right National Rally was expected to score a crushing victory, but that didn't ...