Market Overview - A-shares experienced a significant decline on December 11, with over 4,000 stocks closing in the red, particularly in the communication, real estate, and consumer sectors [1][4] - The trading volume increased, with a total turnover of 1.89 trillion yuan, up by 936 billion yuan from the previous trading day [2] Federal Reserve Impact - The Federal Reserve lowered the federal funds rate target range by 25 basis points to 3.50% to 3.75%, aligning with market expectations [2][9] - Analysts noted that the rate cut was already priced in, and the Fed's hawkish stance limited upward momentum in the stock market [9][10] Sector Performance - Among 31 primary industries, only the banking sector showed gains, while others, including communication and real estate, saw declines exceeding 3% [4][6] - The comprehensive index fell by 4.31%, with notable declines in communication (-3.14%) and real estate (-3.06%) sectors [6] Stock Highlights - ZTE Corporation hit the daily limit down after announcing it was under investigation related to compliance with the U.S. Foreign Corrupt Practices Act [7][8] - New stocks like Moer Thread surged by 28.04%, reaching a market value of 442.3 billion yuan [6][8] Investment Strategies - Analysts suggest a cautious approach, focusing on sector rotation and potential risks in speculative stocks, while emphasizing the importance of policy direction [11][12] - Investment strategies should consider high-growth sectors like AI and semiconductors, while also being mindful of the tightening liquidity environment as year-end approaches [12][13]