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Why Nio Stock Crashed Today

Why Nio Stock Crashed Today

Nio (NYSE: NIO) stock crashed Thursday morning, sinking 6.5% lower as of 11:25 a.m. ET. The Chinese electric vehicle (EV) manufacturer is upping up its battery swap game and even setting up a battery manufacturing business. Investors in Chinese stocks are already scurrying for cover after Chinese leader Xi Jinping secured a third term earlier this week, as they fear Xi's ideologies, particularly his crackdowns on the private sector and zero-COVID policy, to continue.