American depositary shares of China-based electric-vehicle makers were taking a hit on Tuesday amid broader market weakness, with shares of Nio Inc. /zigman2/quotes/204905836/composite NIO +14.30% on track for their lowest close since Oct. 13, 2020 when they closed at $21.62, and extending losses for a third straight session. Nio has lost 19% over that three-day losing streak. Nio's ADRs are down 62% from an all-time closing high of $62.84 on Feb. 9, 2021. U.S. equity markets were again on retreat on Fed-action concerns. Li Auto Inc. /zigman2/quotes/219811686/composite LI +7.81% and XPeng Inc. /zigman2/quotes/219982686/composite XPEV +5.79% ADRs were off 7% and 5%.
This update corrects the year for Nio's previous lowest close.