Stock Track | SMIC Plunges 9.78% as Trump's Tariff Threat Sparks Selloff in Chinese Tech Stocks
Semiconductor Manufacturing International Corporation shares plummeted 9.78% in intraday trading on Friday, caught in a broader selloff of Chinese tech stocks after US President Donald Trump announced plans to double tariffs on Chinese imports.Trump's escalation of the trade war with Beijing raised concerns over potential disruptions to China's exports, a key driver of its economic growth. The new tariffs exacerbated fears of a slowdown in the world's second-largest economy, already grappling w