U.S. stocks retreated on Tuesday as Wall Street watched for updates out of the Federal Reserve policy meeting.
The Dow Jones Industrial Average lost 58 points, or 0.2%. The S&P 500 slid 0.3%, while the Nasdaq Composite dropped 0.4%.
U.S.-listed shares of NIO tumbled more than 7% in morning trading after the Chinese electric-vehicle maker said it plans to raise $1 billion by issuing convertible senior notes. NIO said it plans to use a portion of the proceeds from the offering to pare its debt, with the remainder “mainly to further strengthen its balance sheet position as well as for general corporate purposes.”
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