Why Nu Holdings Was Dropping on Wednesday
Nu Holdings (NYSE: NU) was dropping fast on Wednesday, as the stock price was down as much as 8.2% in the morning session. By 2 p.m. ET, it was down about 7% to $4.75 per share.
It was a bad day all around as the major indexes were all down, with the Dow Jones Industrial Average off 1.4%, the S&P 500 down 1.4%, and the Nasdaq dropping 1.8% as of 2 p.m.
The overall market decline related to the unsettled U.S. elections was likely the main reason that Nu Holdings, a Brazil-based online bank, was falling today. Control of the Senate and House was still up in the air as of Wednesday afternoon, and the uncertainty spooked investors.
Source Fool.com
