These 11 stocks are struggling as the trade war with China heats up

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.

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.

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: