Investing.com -- Shares of Adidas (OTC: ADDYY ) and Puma (OTC: PMMAF ) experienced a sharp decline on Thursday, following the imposition of new tariffs by U.S. President Donald Trump.

The tariffs, which impact several key sourcing markets for the sportswear companies, led to a significant decrease in their stock values.

Adidas shares fell by 9%, reaching a nearly one-year low. Puma also saw a substantial decrease, with shares plummeting 11% to their lowest level since November 2016, as of 0706 GMT.

Shares of Nike (NYSE: NKE ), listed on the Frankfurt exchange, also experienced a downturn on the same day, witnessing a 6.5% decrease.

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