Three Big Stocks Plummet to New Lows Amid Cautious Consumers and Rising Competition

Nike, Nio, and McDonald's stocks fell to their lowest levels in over a year on Thursday. The decline was due to cautious consumers and rising competition that are squeezing companies' profits.

Nike shares hit a 12-year low of $38.17, while Nio shares dropped to a 52-week low of $4.30 ahead of its Sept. 1 earnings report. McDonald's shares fell to a two-year low of $259.85 as lower-income customers cut back on restaurant visits.

Nike's restructuring costs and weak consumer spending are major concerns for investors, while Nio is facing intense competition in China's electric vehicle market. McDonald's continues to contend with financially stretched lower-income customers who have reduced restaurant visits amid persistent inflation.