On September 8, as the U.S. stock market drew to a close, a collective downturn was observed across all three major indices. The Dow Jones Industrial Average took a significant hit, plunging 1.18%. Meanwhile, the Nasdaq Composite Index wasn't spared, sliding 0.32%, and the S&P 500 Index also succumbed to the bearish trend, declining by 0.58%.

The tech sector, particularly large-cap stocks, bore the brunt of the sell-off. Nvidia's shares tumbled more than 2%, while Apple and Microsoft witnessed declines exceeding 1%. Amazon, Meta, and Google also felt the heat, albeit with more modest drops. In a stark contrast, Tesla emerged as a bright spot, surging over 3%.

The performance of popular Chinese American Depositary Receipts (ADRs) was a mixed bag. Baidu's stock price took a substantial nosedive, plummeting nearly 7%. Pinduoduo and JD.com weren't far behind, with their shares falling over 2%. Alibaba, Weibo, NIO, and XPeng also experienced slight declines. However, it wasn't all gloom and doom. iQIYI's stock soared over 11%, while Bilibili's shares jumped more than 6%. Li Auto and NetEase managed to eke out slight gains, providing a glimmer of hope amidst the market turmoil.