Luxury goods company LVMH shares take a tumble

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  Hello and welcome to World Business Report from the BBC World Service.

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  I'm Rodgy Hearing and on this edition,

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  French luxury giant LVMH publishes disappointing first quarter results so how far are the trade tensions and uncertainty beginning to bite in this market?

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  Also, China's president arrives in Malaysia to woo the neighborhood.

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  As tariff pressures grow, we hear from Malaysia's trade minister,

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  South Korea funnels billions of dollars into its microchip industry,

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  as Washington talks about increasing tariffs on them,

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  and we're in Finland as the Nordic nation tries to boost the environment for startup entrepreneurs.

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  But first, it may not be part of the global economy that worries you the most,

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  but luxury goods sector is a major driver of earnings and jobs.

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  And right now, it's not looking too healthy.

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  LVMH, whose high-end brands include Louis Vuitton, Dior, Champagne House Moe and Beauty Chain Sephora,

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  spends millions each year on celebrity deals for the likes of Pharrell Williams,

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  K-pop star Lisa and actress Emma Stone to curate a certain brand image.

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  Well, it may all look shiny and expensive, but the company's now announced disappointing first quarter results,

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  taking it briefly below its main rival air mares as Europe's largest luxury company.

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  A 3% decline in LVMH's first quarter sales, well below analyst expectations for 2% growth,

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  pointed to another difficult year for luxury companies following President Donald Trump's recent tariff announcements,

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  which have sparked fears of recession.

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