Why NIO Stock Is Down Today
Shares of electric-vehicle maker NIO (NYSE: NIO) and other Chinese stocks were moving lower on Wednesday, on investor fears of a flare-up of international tensions after the U.S. government ordered the closure of China's consulate in Houston.
As of 11:30 a.m. EDT, NIO's American depositary shares were down about 4.6% from Tuesday's closing price.
Investors in Chinese businesses reacted with concern after the U.S. State Department abruptly ordered the Chinese government to close its consulate in Houston. The State Department ordered the closure in response to "massive illegal spying and influence operations throughout the United States against U.S. government officials and American citizens," it said in a statement after the Chinese government made the order public.
Source Fool.com
