The local gene-sequencing company and a U.S. clothing company face sales restrictions in China as part of that country’s economic retaliation.

Illumina, the San Diego-based gene sequencing giant, is taking a hit this week after China placed the company on its "unreliable entity" list. Why it matters: Companies placed on China's blacklist, which this week also included the parent company of Calvin Klein and Tommy Hilfiger,

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.