Core Viewpoint - The report from CITIC Securities indicates that the unilateral decision by President Trump to impose additional tariffs on Chinese imports on October 10, 2025, led to a significant drop in U.S. stock markets, but overall market sentiment did not enter a state of panic as evidenced by major indices and VIX performance [1]. Summary by Categories Market Sentiment - Despite the high valuations of U.S. stocks compared to early April levels, the current market still holds investment value when considering PE and EPS growth rates as well as PB/ROE metrics [1]. - The market's resilience is supported by the ongoing liquidity in the U.S. economy and the gradual implementation of the OBBB Act (the "Big and Beautiful Act") [1]. Investment Recommendations - Investors are advised to focus on three medium to long-term directions: 1. Technology sector with better valuation and performance alignment [1]. 2. Manufacturing, upstream resources, and nuclear power industries benefiting from re-industrialization and favorable policies [1]. 3. Internet diagnostics sector potentially thriving due to cuts in medical spending [1]. Technology Sector Insights - In the short to medium term, the resilience of the macro economy, potential interest rate cuts by the Federal Reserve, and strong AI capital expenditure data are expected to provide ongoing support for the performance of the U.S. technology sector [1]. - Specific attention is recommended for three sub-sectors within technology: Internet, Software as a Service (SaaS), and Semiconductors & Hardware [1].