Watch shares plummet as tariffs hurt Switzerland
The stock fell 6.8 per cent, or 23.8p, to 326.8p, deepening the gloom around the luxury industry.
Shares in the group, which sells brands Rolex, Cartier and Audemars Piguet, and is advertised by actress Dakota Johnson (pictured), have plunged 23 per cent since Trump first announced tariffs on April 2.
Analysts at Barclays said this could be a 'significant headwind' for the London-listed company as brands will be likely to raise prices.
It had been opening US showrooms after being bitten by waning demand for watches and jewels, especially in the UK and Europe. Swiss luxury group Richemont also fell by 2.6 per cent.
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