(Bloomberg) -- Tencent Holdings Ltd. added to Friday’s sharp decline to start the week, helping lead weakness in technology shares after the U.S.’ move to ban residents from doing business with the company’s WeChat app.

The stock fell as much as 4.6% Monday morning, approaching Friday’s lowest level. Tencent lost $35 billion of market value to end last week as investors weighed the vaguely worded order, which initially triggered fears that it applied to a number of the internet giant’s operations.

Tech stocks in Hong Kong led declines in the city Monday, with the Hang Seng Tech Index falling as much as 3.3%. The sector was also among the weakest performers in China, with the ChiNext Index dropping more than 1%.

Read: Tencent Loses $35 Billion of Value as WeChat Ban Roils Markets

Deteriorating relations between the U.S. and China are raising investor concerns about the geopolitical impact on economies and markets. In addition to the the WeChat ban, President Donald Trump also signed an order to prevent U.S. residents from doing business with ByteDance Ltd.’s TikTok app starting in six weeks.

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