NIO, Inc. ( NIO ) stock is moving lower on Monday after Wall Street saw its worst session of the year on Friday, fueled by concerns over the economy.

What To Know: These concerns stem from inflation worries and mixed economic data, including a 10% decline in the University of Michigan consumer sentiment index, which fell to 64.7 in February, according to CNBC.

The decline comes as consumers voice concerns about rising inflation ahead of potential tariffs. Furthermore, the University of Michigan survey’s five-year inflation forecast reached 3.5%, the highest levels since 1995.

Additionally, U.S. existing home sales dropped more than anticipated last month, reaching 4.08 million units.

Investors often become more cautious amid mixed market reactions to economic concerns. The uncertainty around future tariffs, which could increase costs or disrupt business, may add to the volatility in these stocks.

“Uncertainty is the new investor narrative,” said Greg Bassuk, CEO at AXS Investments, according to Reuters. “We’re anticipating that the uncertainty and the volatility is going to remain at least through the end of this first quarter.”

The decline could also be due to profit-taking following last week's rally in US-listed Chinese stocks.

See Also: Expert Outlook: eBay Through The Eyes Of 7 Analysts

NIO Price Action: At the time of writing, NIO shares are trading 1.35% lower at $4.38, according to data from Benzinga Pro.

Image: via Shutterstock