Shares in US media companies dropped after Donald Trump threatened to impose 100% tariffs on foreign-made films, potentially raising costs for Hollywood studios.
Netflix, Amazon, Warner Bros Discovery, and Paramount saw declines in their stock prices, with the Nasdaq index also falling.
Trump's announcement raised concerns about the impact of his trade policy on the economy, with uncertainty around whether the tariffs would apply to streaming platform content and how they would be calculated.
The potential tariffs could affect global production networks, increase production budgets, and disrupt the international film industry, leading to significant challenges for studios and cinema operators.