Bloomberg EV Price Return Index Falls 0.72% to 3,053.81

The tell here is the timing, not the size: an intraday reversal that began in Beijing hours and only accelerated once US markets opened points to US flows, not Asia-Pacific news, as the driver. That matters for anyone tracking EV exposure, since it suggests the sector is trading on US risk appetite rather than regional fundamentals. Whether the index stabilizes or extends the move into the next US session is the open question.