Quantum Computing Inc. (QUBT) saw its stock price plummet 9.49% in the intraday trading session on Monday, following a broader selloff in the quantum computing industry driven by fears of a potential global trade war.

The sharp decline came after the US government imposed new tariffs on imports from China, Mexico, and Canada over the weekend. These actions raised concerns about retaliation from affected countries and the possibility of an escalating trade conflict, which could further complicate the operations of smaller quantum computing companies like QUBT.

As unprofitable startups facing intense competition from industry giants like IBM, Google, and Microsoft, quantum computing firms like QUBT are particularly vulnerable to the potential disruptions caused by a trade war. Their businesses rely on global supply chains and customer bases, which could be impacted by rising trade barriers and tensions.