Solectron dropped 11.5% to a 52-week low of $19.01 in early afternoon.

The company's announcement late Monday that it would cut 8,200 jobs and miss projections prompted a string of analyst downgrades and estimate cuts in the contract electronics sector.

Flextronics ( FLEX - Get Report) fell 12.6% after hitting a 52-week low of $19.69.

Sanmina ( SANM - Get Report) was down 11.4%.

Jabil Circuit ( JBL - Get Report) slipped 5.7%.