NIO, other EV maker stocks drop after China imposes COVID-related restrictions

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,
+0.44%
slid 3.2%, Xpeng Inc. shares
XPEV,
-0.96%
shed 4.9% and Li Auto Inc.’s stock
LI,
-0.97%
gave up 3.8%. Shares of Tesla Inc.
TSLA,
+2.54%,
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,
-5.10%
buyout deal. Meanwhile, the iShares China Large-Cap ETF
FXI,
-1.32%
dropped 2.9% in premarket trading, while futures
ES00,
-0.62%
for the S&P 500
SPX,
-0.08%
lost 0.5%.