Between President Joe Biden's State of the Union Address and Fed Chair Jerome Powell testifying before the U.S. House Committee on Financial Services, there are multiple investing-related stories coming out of Washington, D.C. Why investors should be looking at exploration and production companies. To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. Read More...
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Why Nio, Ford, and General Motors Stocks Crashed
Car stocks, in particular, took it on the chin during the session, with Chinese electric car-maker Nio (NYSE: NIO) losing 6.2%, Ford Motor Co. (NYSE: F) down 4.2%, and General Motors (NYSE: GM) losing 5.6%. As Reuters reported, officials from the German state of Brandenburg held a news conference Friday at which they announced they were giving Tesla conditional approval to open its $5.5 billion car gigafactory in Berlin. Tesla, says Reuters, is depending on this factory “to vanquish European market leader Volkswagen.”
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