Part 3/11:
The consequences were incendiary. Within just two days, the value of China’s electronics industry plummeted by a staggering $220 billion. Key players like Huawei, Xiaomi, and Lenovo experienced a drastic drop in stock, some losing upwards of 20% almost overnight. The immediate effects rippled through production in cities across China, most notably Shenzhen, a hub for technology manufacturing. Production at Foxconn's iPhone plant ground to a halt, while local markets experienced a staggering 80% drop in foot traffic.