Why NIO Stock Is Down Today
Shares of Chinese electric-vehicle maker NIO (NYSE: NIO) were trading lower on Thursday amid a broad market sell-off driven by growing concerns about the potential effects of rising interest rates in the United States. As of 2:00 p.m. EST, NIO's American depositary receipts were down by about 8.5% from Wednesday's closing price, while the S&P 500 index was trading about 2.5% lower. The company's fourth-quarter loss of $0.16 per share, reported on Monday afternoon, was worse than Wall Street had expected given NIO's strong sales numbers.
