Shares of the Chinese electric vehicle (EV) maker Nio (NYSE: NIO) fell today after President Biden unveiled the Indo-Pacific Economic Framework (IPEF) yesterday. The drop comes just one day after Nio's shares slid 5%.
The IPEF could be a way for the U.S. to counter China's economic dominance in the Indo-Pacific region, and Chinese stock investors are concerned that it could lead to more division between the U.S. and China. As a result, Nio's stock plunged 7.8% as of 1:14 p.m.
Chinese stock investors have already been on edge for months as U.S. regulators have threatened to delist some Chinese stocks listed on U.S. exchanges if they don't comply with specific auditing requirements set by the Securities and Exchange Commission (SEC).
Source Fool.com