On November 21, 2025, the three primary U.S. stock indices all ended the trading day in the red. The market demonstrated a pattern of starting strong but then declining, coupled with significant volatility throughout the day. The Nasdaq Index was the hardest - hit, plummeting by over 2%. This decline was accompanied by widespread sell - offs in both technology stocks and Chinese concept stocks.

On this particular day, the Dow Jones Industrial Average finished at 45,752.26 points, representing a 0.84% decrease. The S&P 500 Index closed at 6,538.76 points, down 1.56%. Meanwhile, the Nasdaq Composite Index settled at 22,078.05 points, a 2.15% drop.

The main factors contributing to this market downturn were growing concerns regarding the valuations of AI stocks and a dampening of expectations for Federal Reserve interest rate cuts.

In the technology stock sector, NVIDIA's stock price dipped into negative territory during the trading session and ultimately closed with a 3.15% loss. AMD saw its shares fall by more than 7%, and Oracle's stock dropped over 6%.

As for Chinese concept stocks, the Nasdaq Golden Dragon China Index declined by 3.26%. Canadian Solar's shares took a significant hit, dropping nearly 19%, while FinVolution Group's stock fell over 14%.

However, the agricultural sector proved to be resilient. Quanyin Hi - Tech even reached the 20cm daily limit (a term commonly used in the Chinese stock market to refer to a 20% daily price increase limit for certain stocks), showing strong performance amidst the overall market gloom.

In other news, digital content service provider OverDrive filed a lawsuit against OpenAI. The lawsuit alleges trademark infringement and other issues related to OpenAI's newly launched AI text - to - video application, Sora.