The Nasdaq sell-off intensified after the Federal Reserve indicated it would begin raising interest rates in March. The index fell roughly 5% between where it was before the Fed meeting (midday Wednesday) and the market close on Thursday.
The electric vehicle (EV) industry hasn't been immune to the broader market sell-off. Share prices of Lucid Group (NASDAQ: LCID) and Tesla (NASDAQ: TSLA) are down over 20% year-to-date (YTD) while share prices of another up-and-coming EV player, Rivian Automotive, are down nearly 50% YTD.
Source Fool.com