Shares of Chinese electric vehicle maker Nio Inc – ADR (NYSE:NIO) are trading sharply lower Friday afternoon, caught in a broad market downturn ignited by concerns of a renewed trade war between the U.S. and China. Here’s what investors need to know.
What To Know: The sell-off followed a social media post from President Donald Trump, who stated he is considering a "massive increase of Tariffs on Chinese products" and other countermeasures. The President's post cited what he described as China's "hostile" move to monopolize rare earths and other key elements.
