Why Is NIO Stock Down Today?

Shares of Nio (NYSE:NIO) stock are sliding lower today, although the decline isn’t due to any company-specific news. In fact, shares of the electric vehicle (EV) company are falling due to general weakness in the Chinese market.Today, the CSI 300 Index, China’s mainland benchmark, closed lower by 1.3%, marking the lowest price level since February 2019. The index has yet to close in the green in 2024 and is now down by about 4% this year. Additionally, the index has been in a downtrend since February 2021.M ...