A second China shock is hitting Europe. These stocks are most vulnerable, strategist says.

a second china shock is hitting europe, and this time it's about hi-tech electronics and computer equipment being rerouted into the region. one strategist says the flood of goods will materially erode margins for uk and european companies — even if those countries put up their own trade barriers. the vulnerable stocks aren't named in the analysis, but the warning is specific: the rerouting is already happening, and margins are the target. european manufacturers of electronics and computer gear face direct competition from cheaper chinese output that was originally destined for other markets. trade barriers won't fully shield them, because the volume and price pressure is structural. the first china shock was about low-end manufacturing. this one is about the high-tech supply chain. and the strategist's point is blunt — european companies can't just tariff their way out of it.