Yahoo Finance's Ines Ferre breaks down the market and sector gains heading into the closing bell, as well as tech and semiconductor stocks, retailers, and the commodity price actions surrounding crude oil and metals.
Shares of Nio (NYSE: NIO), the Chinese electric vehicle marker, were tumbling this morning as investors digested two pieces of negative news: ongoing fears that some Chinese stocks could be delisted from U.S. exchanges and an analyst's price target cut for one of Nio's competitors. First up, Nio investors may be a bit nervous today after the Chinese ride-sharing company Didi Global said that it's being investigated by the Securities and Exchange Commission about its IPO last year. Didi didn't disclose many details about the probe, but it comes on the heels of the Chinese government cracking down on U.S.-listed Chinese stocks.
(Bloomberg) -- Didi Global Inc. led a drop in U.S.-listed Chinese internet stocks after news of a U.S. Securities and Exchange Commission investigation into the ride-hailing company’s 2021 debut in New York added to investor concerns around the sector.Most Read from BloombergRussia Seeks to Annex Occupied Ukraine as Invasion Goals ShiftAs Putin Gets Desperate, U.S. Should Remember Pearl HarborUkraine Latest: Russia Seeks to Annex Occupied TerritoryCiti Trader Made Error Behind Flash Crash in Eur