NIO Inc.'s stock plummeted 6.27% on Tuesday during the intraday trading session, underperforming the broader selloff in U.S.-listed Chinese stocks.
The electric vehicle maker's stock decline was primarily driven by a broader selloff in Chinese American Depositary Receipts (ADRs) and exchange-traded funds (ETFs) tracking Chinese equities. Investors were booking profits following a robust rally in the prior session, fueled by expectations of looser monetary policy in China next year to support economic growth. While China signaled an "appropriately loose" monetary policy shift for 2025, investors awaited further details on potential stimulus measures.
Adding to the negative sentiment, China's latest trade data highlighted the economic challenges facing the country. Imports unexpectedly fell 3.9% in November, the worst drop in 14 months, while exports rose at a slower pace of 6.7%, signaling weakening demand.
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