Shares of genetic testing company Illumina and Calvin Klein-owner PVH Corp fell on Tuesday after China placed the two companies on its "unreliable entity" list, putting them at risk of sanctions.

Key Takeaways China's Ministry of Commerce has put PVH and Illumina on its "unreliable entity" list.The two firms are accused of taking actions that harmed Chinese companies.Companies on the unreliable entity list could face business restrictions,

San Diego-based gene-sequencing giant Illumina got tangled in the United States’ trade tensions Tuesday as China placed the company on its “unreliable entity list.” China also placed PVH, an American clothing company that owns brands such as Tommy Hilfiger and Calvin Klein,