According to CoinMeta, the financial reports of Volvo and Gucci fell short of expectations, leading to a decline in European stock markets for the second consecutive trading day. The disappointing financial reports from companies such as Gucci, coupled with concerns over high oil prices and the boom in artificial intelligence, put pressure on the stock market. The Euro Stoxx 600 index fell by 0.3%, with the automotive sector leading the decline. After Volvo Cars announced a loss for the third quarter, its stock price tumbled by 25%. Gucci's sales decline in the third quarter exceeded expectations, hindering the brand's multi-year transformation process. Although the energy and construction sectors performed well and led the market gains, European stock markets have fallen nearly 4% since their August highs in recent weeks. Strategists at Barclays Bank noted that the third-quarter financial reporting season for European and American companies started strongly, but there was a reduction in performances that exceeded expectations, and macroeconomic concerns also dampened the positive reaction of stock prices to the financial reports.