BYD Company's stock (01211.HK) plummeted 15.42% in intraday trading, as Chinese technology companies faced a significant selloff due to escalating trade tensions between China and the United States. The sharp decline in BYD's shares reflects broader market concerns about the impact of new tariffs on Chinese exports and the overall health of China's economy.

The selloff was widespread across the Chinese tech sector, with the Hang Seng Tech Index declining by 16.4%. Other major players in the industry also experienced substantial losses, with XPeng down 19%, Xiaomi and Kuaishou down 18%, and electric vehicle competitors like NIO down 15%. This market-wide downturn suggests that BYD's decline is part of a larger trend affecting Chinese technology and manufacturing companies.

The catalyst for this market rout appears to be China's announcement of retaliatory measures against U.S. imports, following President Trump's imposition of additional tariffs on Chinese goods. Analysts warn of potential risks, including an accelerated U.S.-China economic decoupling and strain on China's manufacturing and consumer sectors. As investors brace for the impact on China's export growth and await potential fiscal stimulus measures, concerns about rising public debt and a weakening economy continue to put pressure on stocks like BYD, which are heavily exposed to both domestic and international markets.