Mei Ri Jing Ji Xin Wen·2025-11-04 22:26Core Viewpoint - The U.S. stock market is experiencing a downturn, with major indices showing declines, particularly in technology stocks, amid concerns over high valuations and potential market corrections [1][14]. Market Performance - As of November 4, major U.S. indices closed lower: Dow Jones down 0.32% at 47185.13, S&P 500 down 0.64% at 6808.45, and Nasdaq down 1.01% at 23594.72 [1][2]. - The Nasdaq Golden Dragon China Index fell by 1.4%, reflecting a broader decline in Chinese stocks listed in the U.S. [4]. Technology Stocks - Prominent technology stocks saw significant declines: Intel down 4.20%, Tesla down 3.53%, and Nvidia down 2.08% [3][4]. - Palantir Technologies reported a record revenue of $1.18 billion for Q3, a 63% year-over-year increase, but its stock price fell, raising concerns about the high valuations in the tech sector [14]. Analyst Insights - Wall Street executives expressed caution regarding the current market valuations, particularly in technology stocks, with predictions of a potential 10% to 20% market correction [14]. - The forward P/E ratio of the S&P 500 has risen above 23, nearing the highest levels since 2000, indicating heightened valuation concerns [14]. Global Market Trends - European markets also showed weakness, with major indices like Germany's DAX30 down over 1% [4]. - Asian markets experienced declines, with the South Korean index down 2.4% and Japan's Nikkei 225 down 1.7% [5]. Commodity and Cryptocurrency Markets - Gold prices fell sharply, with spot gold down 1.4% to $3944.9 per ounce [5]. - The cryptocurrency market faced significant losses, with Bitcoin dropping over 3% to $104,289, and a total of $1.399 billion in liquidations reported across the market [11][12].