(Reuters) -European shares fell on Tuesday as heavyweight Novo Nordisk (NYSE: NVO ) slumped, while U.S. President Donald Trump’s vocal attacks on Federal Reserve Chair Jerome Powell shook investor confidence which is already fragile due to concerns over the trade war.

Novo Nordisk dropped 8% after U.S. rival Eli Lilly (NYSE: LLY )’s experimental pill worked as well as the Danish drugmaker’s blockbuster drug Ozempic to lower weight and blood sugar in a trial of diabetes patients.

The pan-European STOXX 600 index was down 0.7% as of 0709 GMT.

Concerns over U.S. tariffs also kept investors on the edge as they returned from the Easter long weekend.

The week began on a dour note after Trump repeated his criticism of Powell to pressure the central bank into cutting interest rates quickly, raising concerns about its independence and igniting a sharp selloff on Wall Street on Monday.

Biotage shares surged 55.8% after the Swedish biotechnology firm said KKR made a cash offer for the firm, valuing it at around 11.6 billion Swedish crowns ($1.22 billion).

($1 = 9.5059 Swedish crowns)