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Why Nio Stock Is Sinking Today

Why Nio Stock Is Sinking Today

Shares of Chinese electric-vehicle maker Nio (NYSE: NIO) opened sharply lower in U.S. trading on Monday amid a broad market sell-off triggered by rising global tensions and interest rate fears ahead of a key U.S. Federal Reserve meeting. As of 10:15 a.m. ET, Nio's American depositary shares were down about 11.9% from Friday's closing price. Nio was just one of many companies that saw their shares hit hard in early trading on Monday.