(Bloomberg) — Shares of major container shipping lines fell as markets worried about what Donald Trump’s presidency would mean for global trade volumes.

AP Moller – Maersk A/S fell the most in a month, falling as much as 6.9%, while other competitors, including Germany’s Hapag-Lloyd AG and South Korea’s HMM Co. , also fell.

Markets around the world digested Trump’s victory, with the dollar and US stock markets rising sharply. Investors are betting that his second term will look a lot like the first, with a series of policies aimed at boosting domestic growth – but which will also include tariffs that add trade frictions.

Container stocks fell due to “the clear impact of global trade barriers on the flow of finished goods,” said Jorgen Lian, an analyst at DNB Markets. “Stocks like Maersk are making headlines, especially after a significant rise in the week leading up to the election.”

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