10 Companies Mirror Wall Street Downturn

7. ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Shares of ZIM Integrated (ZIM) dropped for a second day on Friday, losing 7.87 percent to end at $19.09 apiece as investor sentiment was dampened by the growing trade tensions globally.

With the trade war, shipping companies such as ZIM stand to bear the brunt of higher operating costs, lower global trade volumes, and shipping rates, should country leaders impose higher trade tariffs.

Earlier, Trump already signaled to levy 10 to 20 percent taxes on all imports from all countries with a special rate of 60 percent on all imports from China. He also specified Mexico and Canada among the countries to be slapped with taxes.

In retaliation, Canada said it was already preparing to strike back should Trump proceed with his plan to slap a 25-percent tax on Canadian goods.

At present, Canadian officials are working on a list of American products that the US exports to Canada, targeting items that both send a political message and inflict a reasonable amount of economic damage, according to sources.