Market Reacts to Trump's Tariff Announcement

Following US President Donald Trump's shocking announcement of imposing a "major tariff" on pharmaceuticals, stocks of leading European pharmaceutical companies experienced a significant drop. This move has sparked widespread concern among investors regarding its potential ripple effects across the global market.

Impact on Major Players

By 10:18 am CET, Novartis AG and Roche Holding AG saw their shares plummet by 7.03% and 5.80%, trading at 82.81 and 235.50 Swiss francs, respectively. Shortly after, at 10:32 am CET, Sanofi SA shares fell by 5.64%, selling for €87.92 each. Meanwhile, AstraZeneca PLC and GSK plc weren't spared, with their shares sliding by 6.27% and 5.74%, respectively.