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Electric vehicle makers NIO and BYD dropped 2.6% and 2.4%.The market reaction suggests the market had been hoping for more sweeping measures, potentially including capital injections into banks to nudge them to lend more.Instead, investors had to settle with a $1.4 trillion, or about 10 trillion yuan, debt swap to rescue debt-laden local governments which will now see their debt ceiling raised by $860 billion, with the option to tap another $560 billion in new local bond quota.Futures tracking the Hang Seng Index were down 2.5%, while the iShares China Large-Cap ETF fell 4.5% in the U.S. premarket.This content was created by Barron's, which is operated by Dow Jones & Co. 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