Market Shockwaves from Trump's Tariff Announcement

In a startling development, stocks of leading European pharmaceutical companies took a sharp downturn. This comes in the wake of US President Donald Trump's announcement of imposing a "major tariff" on pharmaceuticals, stirring widespread concern among investors about its ripple effects across the global market.

Significant Drops in Stock Values

By mid-morning CET, the financial landscape looked grim for pharma giants. Novartis AG and Roche Holding AG saw their stocks plummet by 7.03% and 5.80%, respectively. Not far behind, Sanofi SA, AstraZeneca PLC, and GSK plc experienced notable declines, with their stocks falling significantly in value.