昨夜，科技股大跌！道指下挫超500点！

Market Overview - On November 17, US stock indices collectively declined, with the Dow Jones falling over 500 points, a drop of 1.18% [1][4] - The S&P 500 index decreased by 0.92%, and the Nasdaq Composite index fell by 0.84% [1][4] - Major tech stocks mostly declined, with Dell Technologies down over 8%, AMD down over 6%, and Nvidia, Intel, and others down over 1% [1][6] Federal Reserve Insights - Federal Reserve Vice Chairman Jefferson indicated rising downside risks to employment, suggesting caution in further rate cuts as rates approach neutral levels [4] - The Fed implemented two 25 basis point rate cuts in September and October, lowering the target range to 3.75% to 4.00% [4] - Market expectations for a December rate cut have decreased from nearly 100% to about 40% following hawkish comments from Fed officials [4] Investment Sentiment - Jeffrey Gundlach, a veteran investor, warned that many asset prices are extremely overvalued and recommended allocating about 20% of investment portfolios to cash to mitigate major market correction risks [4] - Gundlach described the current US stock market as exhibiting dangerous speculative characteristics, labeling it one of the most unhealthy markets he has seen in his career [4] Technology Sector Performance - Nvidia is set to report earnings after the market close on Wednesday, with its stock down 1.88% prior to the announcement [6] - Notably, Peter Thiel's Thiel Macro Fund sold approximately 537,000 shares of Nvidia in Q3, representing nearly 40% of its portfolio, cashing out around $100 million [6] - Berkshire Hathaway acquired 17.85 million shares of Alphabet in Q3, valued at approximately $4.93 billion, marking a rare bet on a tech stock by Warren Buffett's firm [7][8] Chinese Stocks Performance - The Nasdaq Golden Dragon China Index fell by 1.21%, with significant declines in several Chinese stocks, including Yatsen and XPeng [2][8] - Alibaba saw a slight increase of over 2%, contrasting with the overall downward trend in Chinese stocks [8]