Triple trouble for tech stocks
As if the crisis of trust wasn’t already enough, Trump’s trade actions on China will hit the sector where it hurts
The public’s confidence in Artificial Intelligence — on which hundreds of billions of dollars in public and private valuations depends — collapsed with the pedestrian death by an Uber autonomous vehicle earlier this week. The public’s confidence in the integrity of their personal confidences in social media collapsed with the revelations of data abuse by Facebook. And Trump’s threats of tariffs against China along with national-security restrictions on Chinese acquisition of US technology threaten to raise costs in the global tech supply chain. Sell everything in tech.