Market Overview - US stock indices opened mixed but turned positive by 10:40 PM [1] - The Nasdaq Golden Dragon China Index fell over 2% by 10:40 PM [3] Chinese Concept Stocks - Several popular Chinese concept stocks declined, with Li Auto down over 6%, Xpeng down nearly 5%, and NIO down over 3% [3][4] - Specific stock performances include: - Li Auto: 22.985, -6.75% - Xpeng: 23.125, -4.95% - NIO: 6.475, -3.36% [4] Food Delivery Giants - Major food delivery companies saw declines, with JD down over 3%, Alibaba down over 2%, and Meituan ADR dropping nearly 10% [5] - Meituan reported Q2 revenue of 918 billion yuan, a year-on-year increase of 11.7%, but adjusted net profit fell by 89% due to "irrational competition" [5] Precious Metals - Spot gold experienced volatility, briefly dropping below $3,380 per ounce [5] - Spot silver also saw a decline, dropping over 1% at one point [6] Federal Reserve Signals - Federal Reserve officials indicated a dovish stance on interest rate cuts [7] - New York Fed President Williams suggested that the upcoming policy meeting will be "live," hinting at potential rate adjustments [8] - Trump's recent actions against a Fed official raised concerns about the Fed's independence, potentially increasing market uncertainty regarding future policy directions [9][10]