Baidu (BIDU-SW) saw its stock price plummet by 14.75% in trading, as Chinese technology companies faced a significant selloff amid escalating trade tensions between China and the United States. The sharp decline comes as investors react to the latest round of tariffs and growing concerns about the impact of the trade war on China's economy.

The broader market witnessed substantial losses, with the Hang Seng Index closing down 13.22% and the Hang Seng Tech Index plunging 17.16%. Major Chinese tech giants were hit hard, with companies like Xiaomi and XPeng dropping more than 20%, while Alibaba and JD.com fell around 18% and 15% respectively. Baidu's 14.75% decline aligns with this sector-wide trend, reflecting investor concerns about the potential impact of trade tensions on China's technology industry.

The selloff was triggered by China's announcement of retaliatory measures against U.S. imports, following President Trump's imposition of additional tariffs on Chinese goods. Analysts warn of the risk of accelerated U.S.-China economic decoupling and the potential strain on China's manufacturing and consumer sectors. As trade tensions continue to escalate, investors are closely watching for signs of how China's export growth may be affected and what fiscal measures the country might take to offset the negative impact on its economy.