Rémy Cointreau fell 3.8 percent and Diageo fell 4.5 percent after the companies reported earnings. Other drink makers were also dragged down, with Pernod Ricard lower by about 3.6 percent.
Rémy Cointreau, maker of ultra-premium cognac Louis XIII, blamed China for a 13.5 percent decline in sales for the year ending March 31 to 1.03 billion euros ($1.43 billion).
Rémy said it was "adversely affected" by the Chinese government's "anti-extravagance policy, which had a negative impact on the consumption of premium spirits".
"Furthermore, the decline in sales was intensified by the group's desire to reduce inventory levels in its Chinese distribution channels. This effort gathered significant momentum during the second half of the financial year," the company said in a statement.
Sales of Rémy's popular cognac, Rémy Martin, dropped 20 percent. The company warned it could see a decline of between 35 and 40 percent in current operating profit for the 2013/14 financial year.
Meanwhile, Diageo, known for its high-end cognac Hennessey, reported weak organic sales growth of 0.3 percent in the nine months ending March 31, and posted a 1.3 percent drop in the third quarter of 2013. While the company saw growth in North America, Russia and Latin America, Diageo said sales in Asia-Pacific tumble by 19 percent in the three months to March 31.