Panic selling in Buffett-backed BYD

• The electric car maker backed by Berkshire Hathaway (BRK.A, BRK.B) began tumbling in Hong Kong at about 2 PM local time, and were lower by as much as 47% within an hour before closing down by 29%.
• Board secretary John Li dismissed various rumors on a conference call, including one that Chairman Wang Chuanfu had been arrested in London. He also said the company has no indication The Oracle has reduced his stake.