Tesla, Nikola, Nio shares fall as EV sector sees broad weakness

Shares of electric-vehicle makers were suffering a broad selloff Tuesday, with sector leader Tesla Inc.’s stock falling toward a six-week low.

Tesla’s TSLA stock dropped 0.9% in morning trading to put it on track for a third-straight loss and the lowest close since July 26. Meanwhile, the Global X Autonomous & Electric Vehicles exchange-traded fund DRIV took a 2% hit toward a five-week low. The ETF has slumped 6.9% amid a six-day losing streak, which started after it closed at a 16-month high of $27.76 on July 31.

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