Before the Federal Reserve's meeting, the derivative markets were strongly indicating that there was an 80% or greater likelihood of a 0.25% rate hike.As expected, the Fed followed through with the rate hike announcement, but the response of the markets was somewhat surprising. Both the S&P 500 and Nasdaq Composite indices dropped 1.7%, despite the anticipated nature of the Fed's decision.One possible explanation for this unexpected reaction could be that investors were secretly hoping for a pause in the rate hikes, given the ongoing banking crisis. When this did not happen, it may have caused a sell-off due to the perceived negative impact of the continued rate hikes.Another possible explanation was influenced by recent comments made by US Treasury Secretary, Janet Yellen.Specifically
$NIO Inc.(NIO)$ All eyes will be on Nio tomorrow as it reports its 3Q22 earnings. Nio's share price has been on a wild roller coaster ride this year. In October alone, Nio has lost almost 40% but has gained 10% in the past week. In the past year, Nio has lost a massive 74% from a high of 44.27 to a low of 10.56. Nio stock is definitely not for the faint hearted investors. Even though Nio's 2022 revenue grew 21% year over year, its vehicle and gross margins slumped on rising input costs. As a result Nio posted a huge net loss for 2Q22. Nio is also facing macro headwinds due to high inflation, rising interest rates and slowing global economy. Nio's production was also negatively