Australia's CSL hits nearly 18-month low on tariff concerns

Shares of CSL CSL.AX fall as much as 6.7% to A$229.2, their lowest level since Oct. 30, 2023

Shares trim some losses to last trade 4.6% lower

Biotech giant bears the brunt of U.S. plans to announce a "major" tariff on pharmaceutical imports

U.S. President Donald Trump said the tariff will incentivize drug companies to move their operations to the U.S.

Health stocks .AXHJ are down 2.3%, while the broader ASX 200 index .AXJO falls 1.2%

CSL has lost 12.7% YTD, including the day's move