On the morning of November 7, 2025 (Beijing Time), the three major U.S. stock indices all closed in the red, with the Nasdaq taking the brunt of the decline. The tech stocks and sectors related to artificial intelligence (AI) were the primary culprits behind this downward trend. To be specific, the Nasdaq Composite Index tumbled 1.9%, the S&P 500 Index saw a 1.12% drop, and the Dow Jones Industrial Average declined by 0.84%. Large - cap tech stocks generally witnessed a downturn. NVIDIA and Tesla both plummeted by more than 3%. Intel, Amazon, and Meta saw their shares fall by over 2%. Microsoft's stock declined by more than 1%, while Netflix and Apple experienced only minor dips. Interestingly, Google was the sole exception, registering a slight increase. Microsoft's shares have been on a downward spiral for seven consecutive trading days, marking its longest losing streak since 2022. As for Chinese concept stocks, their performance was a mixed bag. The Nasdaq Golden Dragon China Index opened with a 1% gain, but this upward momentum gradually faded by the close of the market. XPeng soared by over 11%, Alibaba's shares rose by more than 2%, and NIO, JD.com, and other Chinese stocks also followed the upward trend. However, market concerns regarding the valuation of AI - related stocks and corporate earnings have not subsided. Analysts have pointed out that if AI - related stocks fail to offer clearer evidence of performance support, the market is likely to continue experiencing volatility.