Chinese ADRs Drop With NIO Down 8%
Chinese ADRs dropped in morning trading. $Direxion Daily FTSE China Bull 3X Shares(YINN)$ fell 3%; $NIO(NIO)$ fell 8%; $XPeng(XPEV)$ fell 6%; $Li Auto(LI)$ fell 5%; $NetEase(NTES)$ fell 2%; $Baidu(BIDU)$ fell 1%; $Alibaba(BABA)$ fell 0.7%.