Big Pharma Stocks Dive Amid Trade War Jitters & Inflation Woes

Stocks of several large-cap pharmaceutical companies plummeted on Friday after China hit back with retaliatory tariffs of 34% on all U.S. imports, escalating fears of a global recession. This move comes just two days after Trump announced his ‘Liberation Day’ speech.Though Trump is yet to impose tariffs on imports of medicines and active pharmaceutical ingredients (API), China decided to impose an additional 34% tariff on all U.S.-originated goods, effective April 10. Investors were concerned that China’s r ...