By Denny Jacob
Illumina shares edge down 3.5% in premarket trading after China placed restrictions on the company as it caught itself in the country's crosshairs in response to a developing trade war.
Shares were trading around $84.20. The stock is down 36% over the last year.
The gene-sequencing equipment maker was among the 10 companies placed on China's "unreliable entity" list, prohibiting it from exporting or importing in China or from making new investments in the country. China's Ministry of Commerce on Tuesday also said it will prohibit Illumina from exporting gene sequences to China after being placed on the "unreliable entity" list in retaliation for President Trump's first round of tariffs in February.
The ban comes as the Trump administration introduced an extra 10% tariff Chinese imports overnight, adding to a 10% levy imposed a month ago. China has announced retaliatory tariffs on food and farm goods.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
Illumina was placed on China's "unreliable" entity list in February. "Illumina Shares Edge Down After China Restricts Exports of Gene Sequences" at 6:51 a.m. ET said it was among 10 companies recently placed on China's "unreliable entity" list.
(END) Dow Jones Newswires
March 04, 2025 14:00 ET (19:00 GMT)
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