Nio shares fall after Tesla stops production in Shanghai

Shares of Nio Inc.
NIO,
-2.83%

fell 5.7% in premarket trading on Tuesday, to build momentum across the broader stock markets, as shares of Tesla Inc.
TSLA,
-1.76%

production suspension extension at its Shanghai plant seems to put pressure on China-based electric vehicle makers. The stock sell-off makes it likely to open at its lowest price since Nov. 28. Among other China-based electric vehicle makers, shares of XPeng Inc.
XPEV,
-7.11%

down 1.2% and Li Auto Inc.
LI,
-8.13%

fell 2.1%, while shares of Tesla rose 4.8%. Meanwhile, the futures contract
ES00,
+0.51%

for S&P 500
SPX,
+0.59%

up 0.5%, while Shanghai Composite Index
SHCOMP,
+0.98%

increased 1.0% overnight.