Why Rivian Automotive Stock Is Down Again Today
Shares of electric-vehicle maker Rivian Automotive (NASDAQ: RIVN) opened lower again on Tuesday as traders and investors continued to sell off auto stocks while awaiting the results of a Federal Reserve Bank policy meeting.
As of 10:15 a.m. ET, Rivian's stock was down about 6.9% from Monday's closing price.
It's no secret that U.S. inflation is at levels not seen in decades, and it's not much of a secret that the Fed is likely to respond by raising interest rates -- and probably soon. The Fed's Open Market Committee is meeting today and tomorrow. Most observers expect the meeting to conclude with a signal that rates will begin to rise in March.
Source Fool.com
