Nvidia(US:NVDA) Xin Hua Cai Jing·2025-10-11 00:10Market Overview - The U.S. stock market experienced a significant decline, with the S&P 500 and Nasdaq Composite Index recording their largest single-day drop since April [1][2] - Major technology stocks fell sharply, with Nvidia dropping 4.89%, resulting in a market value loss of $228.7 billion (approximately 163.18 billion RMB) [1][2] Index Performance - The Dow Jones Industrial Average closed at 45,479.60, down 878.82 points (1.90%) [2] - The S&P 500 index fell by 182.60 points (2.71%) to 6,552.51 [2] - The Nasdaq Composite Index decreased by 820.20 points (3.56%) to 22,204.43 [2] Sector Performance - Semiconductor and cryptocurrency stocks led the declines, with the Philadelphia Semiconductor Index dropping 6.32% [2] - Notable declines included Circle down over 11%, Arm down over 9%, and AMD, Qualcomm, and Coinbase each down over 7% [2] Chinese Stocks - Chinese stocks also saw widespread declines, with the Nasdaq Golden Dragon China Index falling 6.10% [3] - Individual stocks such as Daqo New Energy and Global Data fell over 14% and 13%, respectively [3] Consumer Confidence - The preliminary consumer confidence index for October from the University of Michigan was reported at 55, the lowest since May, with a previous value of 55.1 [3][4] - Consumer sentiment regarding personal finances and the business environment improved, but expectations for future finances declined [3] Inflation Expectations - Short-term inflation expectations decreased from 4.7% to 4.6%, while long-term expectations remained stable at 3.7% [4] Government Layoffs - The U.S. government has begun layoffs as part of a plan to reduce federal government size, with the Department of Education and the Cybersecurity and Infrastructure Security Agency (CISA) confirming staff reductions [4][5]