Zhong Guo Ji Jin Bao·2025-11-06 16:16Market Performance - US stock markets experienced a significant drop on November 6, with the Dow Jones falling approximately 300 points, the Nasdaq declining by 1.6%, and the S&P 500 decreasing by about 1% [2] - Concerns over high valuations in AI-related stocks intensified, leading to a continued decline in this sector [2] Employment Data - The number of layoffs in October surged to 153,074, driven primarily by the technology and warehousing sectors, marking an increase of 183% from September and nearly three times the figure from the same month last year, representing the highest October layoffs since 2022 [3] - Revelio Labs reported a decrease of 9,100 in non-farm employment for October, following an increase of 33,000 in the previous month [3] Stock Movements - AI-related stocks saw significant declines, with Qualcomm down 4%, AMD down 7%, and Oracle down approximately 4% [3] - Notable declines included Nvidia at -2.56% and Meta at -2.15% [4] Legislative Developments - Investors are closely monitoring developments in Washington regarding the legality of tariffs imposed by the Trump administration, with expectations rising that the Supreme Court may overturn these tariffs, potentially boosting the stock market [5] - Chinese stocks initially surged over 2% but later experienced fluctuations, with Xpeng Motors notably rising by 8.77% [5] Federal Reserve Insights - Chicago Fed President Austan Goolsbee expressed concerns about the lack of inflation data during the government shutdown, indicating a cautious approach to interest rate cuts [8] - Goolsbee highlighted worries about core service inflation, suggesting persistent price pressures even outside the direct impact of tariffs [8]