Source:
CNBC 
China devalued its currency by 2 percent after a run of poor economic data – a move some economists think could herald a longer-term slide in the exchange rate. The downward move was the biggest since a massive devaluation in 1994, and appeared to reverse a previous strong yuan policy.
Investors were quick to bet companies like Louis Vuitton holding company LVMH, Gucci owner Kering and L'Oreal could suffer. The stocks were among the biggest fallers on the Paris stock market, dropping between 1.5 and 4 percent. The companies declined to comment.
