UMS (558.SI) saw its stock price plummet by 9.71% in pre-market trading on Monday, as concerns over new tariffs announced by President Trump continue to roil global markets. This sharp decline follows a broader market selloff that has affected the Singapore stock market, with the Straits Times Index (STI) falling about 10% over the past two trading days.

The semiconductor sector, which includes UMS, has been particularly hard hit by the tariff news. Although semiconductors were initially spared from the tariffs, analysts believe the sector could be subject to another round of tariffs for specific products. This uncertainty has led to a significant selloff in semiconductor stocks, with UMS reportedly seeing its share price decline by about 12% over the past two trading days.

The comprehensive tariffs announced by Trump have sent shockwaves through global markets, upending years of free trade policies. Investors are concerned about the potential impact on supply chains, production costs, and overall business operations. As companies assess the implications of these tariffs, which are set to take effect on April 9, uncertainty reigns in the market, leading to increased volatility and downward pressure on stocks like UMS.