Big tech fund managers take ‘evasive action’ as Trump whacks returns

News Snapshot:

Global investors have been sifting through the rubble after a bruising month for US technology giants as Donald Trump’s trade war wreaks havoc on some of Australia’s top-performing investment strategies. Munro Partners, Loftus Peak and ECP Asset Management reported hefty losses for March as the market dumped high-flying artificial intelligence stocks after the US president slapped stifling trade restrictions on China. The “magnificent seven” – including Apple, Microsoft and Nvidia – plunged as much as 19 per cent by the end of the month. Loading...