European pharmaceutical stocks are falling.

After US President Trump announced that he would sign an executive order to lower prescription drug and medicine prices, European pharmaceutical companies' stocks fell in early trading on Monday. Shares of Novo Nordisk, AstraZeneca, GlaxoSmithKline, and Roche Holdings in Frankfurt dropped by 1% to 5%, underperforming the broader market. Earlier, Asian pharmaceutical stocks also experienced declines. In Japan, the pharmaceutical sector fell by over 4%, becoming the worst-performing sector among the 33 industry classification indexes on the Tokyo Stock Exchange. Indian pharmaceutical stocks also trended lower.