The U.S.-listed shares of China-based electric vehicle makers were knocked lower Monday, after new COVID-related restrictions imposed in China over the weekend took a broad swipe stocks in the U.S and China. NIO Inc.'s stock (NIO) slid 3.2%, Xpeng Inc. shares (XPEV) shed 4.9% and Li Auto Inc.'s stock (LI) gave up 3.8%. Shares of Tesla Inc. (TSLA), which generated 24.8% of its first-quarter revenue from China, rose 0.6%, but they were boosted by Chief Executive Elon Musk said over the weekend that he was terminating his Twitter Inc. (TWTR) buyout deal. Meanwhile, the iShares China Large-Cap ETF (FXI) dropped 2.9% in premarket trading, while futures for the S&P 500 lost 0.5%.
(END) Dow Jones Newswires
July 11, 2022 07:12 ET (11:12 GMT)
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