Fed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.
U.S. stocks dropped to their session lows on Wednesday after the Federal Reserve raised its inflation expectations and moved up the time frame on when it will hike interest rates next.The Dow Jones Industrial Average fell 320 points. The S&P 500 traded 0.7% lower after hitting an all-time high in the previous session. The tech-heavy Nasdaq Composite erased earlier gains and traded 0.5% lower.Nine out of 11 S&P 500 sectors traded in the red, led to the downside by communication services and finan
Nio deliveries in January quadruple from a year ago, signaling a strong start to 2021
Chinese electric carmaker Nio said it delivered 7,225 vehicles in January, more than four times the number of cars delivered during the same month last year.BEIJING — Chinese electric car start-upNiois off to a solid start for the year, even if it has a long way to go to catch up with market leaderTesla.The company said Monday it delivered 7,225 vehicles in January, more than four times the 1,598 cars delivered during the same month last year.It’s taken Nio about six years to reach this point, w