Goldman Sachs
- These 11 companies rely heavily on sales to China, according to Goldman Sachs.
- The companies' returns have lagged the market since President Donald Trump announced additional tariffs on May 5, and may be subject to further volatility if trade tensions continue.
- Visit MarketsInsider.com for more stories.
President Trump launched a new bout of stock-market volatility on May 5 by announcing additional tariffs on Chinese goods. In particular, stocks with significant revenue exposure to China have come under pressure.
According to a new report from Goldman Sachs, US stocks with exposure to China have significantly lagged the S&P 500 since Trump's tweet.
In particular, the semiconductor industry has significant exposure to China. The iShares PHLX Semiconductor ETF is down 17% since May 5 while the S&P 500 lost just 5%. Other sectors, such as gaming and commercial lasers, have also been affected.
Markets Insider highlights the 11 companies that have the most sales exposure to China: