Scottish Mortgage Investment Trust PLC (LSE:SMT) tumbled 8% in early trading on Monday, caught in the global market rout sparked by President Trump’s sweeping tariffs.
The trust, a major backer of Silicon Valley’s tech giants, is especially exposed to the sharp sell-off in the sector.
Technology stocks (particularly the so-called Magnificent Seven, which includes Apple, Microsoft and Nvidia) have been among the hardest hit since Trump’s announcement last Wednesday.
Investors fear higher tariffs will squeeze supply chains, raise costs and dampen consumer demand, all of which weigh heavily on growth-focused tech firms.
The Nasdaq index, which tracks many of these companies, has fallen 11% in just a few days.
For Scottish Mortgage, which has long bet on the success of global innovators, the slump in tech valuations has delivered a painful blow.
The shares were off 67.4p at 786.8p and have fallen 19% in the last month in anticipation of US levies on trade.