Chinese EV Makers Fall

Shares of Chinese electric vehicle makers were among those hit by a major sell-off on Monday after President Xi Jinping secured his third term. Shares of Li Auto ($LI@China) fell by 17 percent, Nio’s ($NIO@China) by 16 percent, Xpeng Motors (XPEV@China) by 12 percent in New York, and BYD by 8 percent. Jinping’s appointment of loyalists to the Politburo and regulations on technology companies raised fears that the Chinese government would tighten its control over tech companies.