2 1 Shi Ji Jing Ji Bao Dao·2025-11-17 23:17Market Overview - On November 18, US stock indices collectively declined, with the Dow Jones falling over 500 points, a decrease of approximately 1.2% [1] - The S&P 500 index has dropped over 2% since November, ending a six-month streak of gains, and is down more than 3% from its historical peak [1] - The tech-heavy Nasdaq has fallen over 5% from its record high [1] Stock Performance - Major tech stocks mostly declined, with Micron Technology down nearly 2%, Nvidia and Apple down over 1.8%, and Meta down 1.2%. Tesla, however, rose by 1.1% [2] - Google was a notable exception, initially rising 6% to reach a new all-time high before closing with a gain of just over 3%. Berkshire Hathaway reportedly built a position in Google during Q3 [2] - The Nasdaq China Golden Dragon Index fell by 1.21%, with significant declines in several Chinese stocks, including Yatsen Global down nearly 21% and XPeng down over 10% [2] Commodity Market - Precious metals and base metals experienced widespread declines, with spot gold dropping nearly 2% to a low of $4006.80 per ounce before closing around $4045 [4] - LME aluminum, nickel, and lead all fell over 1% [4] - The CME FedWatch Tool indicates a reduced probability of a 25 basis point rate cut by the Federal Reserve in December, now at 42.9% [4] Cryptocurrency Market - Cryptocurrencies faced significant declines, with Bitcoin dropping below $92,000 and Ethereum also falling below $3,000 [4][5] - Over the past 24 hours, more than 160,000 traders were liquidated, with a total liquidation amount of $851 million [5] - The recent drop in Bitcoin prices is attributed to tightening dollar liquidity and changing Federal Reserve policy expectations, leading to increased selling pressure on high-volatility assets [5][6] Risk Assets - An unusual phenomenon observed is the simultaneous decline of risk assets like Bitcoin and traditional safe-haven assets like gold, which raises concerns [6]