Life sciences firms climb after US and China agree to cut tariffs

Shares of life sciences firms rise after U.S. and China agree to temporarily cut tariffs, easing trade tensions and recession fears

Shares of Bio-Techne TECH.O up 7.5%, Bio-Rad Laboratories BIO.N up 6.7%, QuidelOrtho QDEL.O up 6.1%, Thermo Fisher Scientific TMO.N up 5.5% and Danaher DHR.N up 4%

The U.S. will reduce tariffs on Chinese imports from 145% to 30%, while China will cut tariffs on U.S. goods from 125% to 10%; both measures effective for 90 days

As of last close, QDEL down 18.4%, TMO down 22.5%, TECH down 30.7%, DHR down 17.4%, BIO down 23.7% YTD