AstraZeneca and GSK fall after Trump's tariff threat

Shares of British drug makers AstraZeneca AZN.L and GSK GSK.L fall after U.S. President Donald Trump's tariff warning on pharma sector

AZN down 1.5% at 10,500p and GSK GSK.L falls 1.3% at 1,461.5p; both among top losers on FTSE 100 index .FTSE which is up 0.15%

Trump on Tuesday said tariffs to the pharma sector are "coming very soon"

Michael Field, chief equity strategist at Morningstar, says that with Trump warning of tariffs on pharma, investors are reacting negatively

"It's already been questioned heavily whether tariffs are constitutional or not and would they go through, but in the meantime, market has taken a prudent approach and dropping valuations of pharmacy stocks"

Including session's losses, AZN and GSK are up 0.5% and 8.6%, respectively, so far this year