(FILES) This illustrative photograph shows screens displaying the logo of the French company Hermes, listed on the CAC 40, the main stock market index of the Paris Stock Exchange, in Toulouse on March 31, 2026. Shares of luxury goods group Hermès fell more than 12% in early trading on the Paris Stock Exchange after reporting a decline in first-quarter sales, which were hurt by exchange rates and the war in the Middle East. (Photo by Lionel BONAVENTURE / AFP via Getty Images)