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On Monday, November 17th (Eastern Time), the three key US stock indices closed in the red, hampered by mounting concerns over the lofty valuations of tech stocks. The Dow Jones Industrial Average slumped 1.18%, the S&P 500 Index retreated 0.92%, and the Nasdaq Index gave up 0.84%.
In the realm of individual stocks, Google, which recently secured an investment from Buffett's Berkshire Hathaway, defied the overall market downturn, surging over 3%. In contrast, Apple and Nvidia both witnessed declines of around 2%. Coinbase, a stock closely tied to the cryptocurrency market, plummeted more than 7%.
The majority of well-known Chinese concept stocks also ended the day on a downbeat note. The Nasdaq Golden Dragon China Index shed 1.21%. Among them, Alibaba managed to buck the trend, rising 2.54%, while XPeng Motors took a significant hit, plunging 10.32%.
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