Data released on May 18 showed that the U.S. housing starts fell more than expected in April, dragging the three major U.S. stock indexes lower.

By the end of the day, the Dow was down 0.78%, the S&P 500 was down 0.85% and the Nasdaq was down 0.56%. Eight of the 11 major S&P sectors closed lower, with energy and industrials the worst performers, utilities little changed and real estate up slightly.

However, on Tuesday local time, US President Joe Biden visited Fords electric vehicle plant and spoke about its $174 billion electric vehicle proposal. The future of the auto industry is electric and there is no going back, he said. Boosted by this, the new energy vehicle sector related stocks in the United States collectively rose.

Electric car maker Lordstown Motors surged more than 20 percent, electric van maker Workhorse gained more than 9 percent, U.S. electric car startup Fisker gained more than 8 percent, and Tesla also closed higher after slightly lower early in the session.

In terms of Chinese stocks, Xiaopeng Automobile rose 4.6%, Ideal Automobile rose nearly 3%, and NIO rose more than 1