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Why Shares of Nio, Full Truck Alliance, and Lufax Are Falling Today

Why Shares of Nio, Full Truck Alliance, and Lufax Are Falling Today

Several Chinese stocks fell today as rising COVID-19 cases in the country concerned investors about more lockdowns and restrictive policies that have damaged the Chinese economy all year. Shares of the Chinese electric car maker Nio (NYSE: NIO) traded roughly 3.7% lower as of 10:51 a.m. ET today. Meanwhile, shares of the digital freight platform Full Truck Alliance (NYSE: YMM) traded nearly 8.4% down and shares of the fintech company Lufax Holding (NYSE: LU) had plummeted roughly 22.5%.