- Chinese EV maker stocks plunged as investors continued to mull Beijing's regulatory squeeze on its corporations.
- Xpeng dropped nearly 17%, while
Nio fell as much as 10% Tuesday. Li Auto and Niu Technologies also tumbled. - While there was no new regulation directed towards electric-vehicle makers, the downward movements in stock prices appear to be a part of a broader sell-off in US listed Chinese stocks.
Chinese EV makers plunged Tuesday as investors continued to mull over Beijing's regulatory squeeze that has tightened across industries and rattled global
Shares of $4 dropped nearly 17%, while $4 fell as much as 10% Tuesday. Meanwhile, $4 dropped as much as 14%, and $4 shed 16%.
While there was no new regulation directed towards the country's electric-vehicle makers, the downward movements in stock prices appear to be a part of a $4.
Since then, newly public ride-hailing firm Didi has been hit with regulatory actions by China, which has cited data-security concerns. Regulation that could prevent publicly-listed companies from teaching school curriculum has also hit Chinese education companies hard in recent days.
Beijing's crackdowns on its technology and education sectors have erased $769 billion in value from U.S.-listed Chinese stocks in the last five months, according to Bloomberg data.