BYD Electronic (00285) shares plummeted 23.32% during intraday trading on Monday, as Chinese technology stocks faced a significant sell-off amid escalating trade tensions between the United States and China. The sharp decline comes as investors brace for the potential impact of new tariffs on the Chinese economy and tech sector.

The broader market also experienced substantial losses, with the Nasdaq-like Hang Seng Tech Index in Hong Kong falling 14% by midday. BYD Electronic, a major Apple supplier and the contract manufacturing arm of China's EV giant BYD, was particularly hard hit due to its exposure to international markets and potential disruptions in the global supply chain.

The steep decline in BYD Electronic's stock price can be attributed to several factors. Firstly, as a key player in iPhone production, the company is vulnerable to any disruptions in US-China trade relations. With nearly 90% of iPhones produced and assembled in China, the imposition of new tariffs could significantly impact BYD Electronic's operations and profitability. Additionally, the broader economic concerns stemming from the trade war, including potential slowdowns in manufacturing activity and consumer spending, are likely contributing to investor uncertainty and the stock's dramatic fall.