Source: Heliographer / Shutterstock
Chinese electric vehicle (EV) stocks are down on Tuesday and it all has to do with the country’s Zero Covid policy.
Investors are worried that China is preparing for further restrictions as part of its Zero Covid policy. This follows a string of weeks where viral infections in the company have been increasing. This follows the Communist Party offering more flexible restrictions about a month ago.
It’s worth pointing out that China still has lower Covid-19 cases than many other major countries. Even so, the focus on its Zero Covid policy means cities might see a new wave of lockdowns that could hurt the country’s economy.
If that happens, Chinese stocks, including those belonging to EV companies, will likely suffer further falls. Let’s check out what’s happening with them already below!
Chinese EV Stocks Down Today
- Nio (NYSE:NIO) stock starts off our list with the Chinese EV company’s shares down 1.3% as of Tuesday morning.
- Li Auto (NASDAQ:LI) shares are another in the Chinese EV market declining today with a 5.9% drop as of this writing.
- Xpeng (NYSE:XPEV) stock closes out our list of Chinese EV shares falling today with a 3.8% decrease this morning.
There’s plenty of other news for traders to sink their teeth into below!
We’ve got all of the hottest stock market news ready to go for Tuesday! A few examples of that include what’s happening with shares of Luckin Coffee (OTCMKTS:LKNCY), OncoSec Medical (NASDAQ:ONCS), and Mullen Automotive (NASDAQ:MULN) stock today. You can find out more on these matters at the following links!
More Tuesday Stock Market News
- What Is Going on With Luckin Coffee (LKNCY) Stock Today?
- ONCS Stock Alert: What to Know About OncoSec Medical as It Drops Today
- Mullen Is Reselling 220 Million Shares of MULN Stock
The post Why Are Chinese EV Stocks NIO, LI, XPEV Down Today? appeared first on InvestorPlace.