2 1 Shi Ji Jing Ji Bao Dao·2025-10-11 00:08Market Overview - The U.S. stock market experienced a significant decline on October 10, with the Dow Jones falling by 1.9%, the Nasdaq by 3.56%, and the S&P 500 by 2.71%, marking the largest single-day drop since April for both the Nasdaq and S&P 500 [1][3] - The yield on U.S. Treasury bonds rose sharply, while the dollar index decreased by 0.56%, closing at 98.977 [1][4] Sector Performance - Major U.S. tech stocks saw widespread declines, with Broadcom down nearly 6%, Tesla over 5%, and Amazon more than 4%. Nvidia's market value dropped by $228.7 billion (1.63 trillion yuan) in one night [3] - The Philadelphia Semiconductor Index fell by 6.32%, with significant drops in stocks like Circle (over 11%), Arm (over 9%), and AMD (over 7%) [3] - The Nasdaq China Golden Dragon Index fell by 6.1%, with notable declines in Chinese stocks such as NIO and Bilibili, both dropping over 9% [3] Commodity Movements - International oil prices fell, with U.S. crude oil down 5.32% to $58.24 per barrel, and Brent crude down 4.75% to $62.12 per barrel [5] - Gold prices increased, with COMEX gold futures rising by 1.58% to $4,035.50 per ounce, while silver futures rose by 0.76% [5] Economic Implications - The ongoing U.S. government shutdown, now in its tenth day, has led to concerns about economic data availability and potential impacts on market sentiment [4][6] - Analysts suggest that the stock market may not necessarily panic, as historical data shows that the S&P 500 has a 75% win rate during government shutdowns, with an average gain of 2.91% [6] - The shutdown may lead to increased volatility in bond yields, with the 10-year Treasury yield showing a slight decline, while the short-term yields may experience more significant fluctuations [7][8]