On November 18, the three principal U.S. stock indices concluded the trading day on a downward note. The Dow Jones Industrial Average registered a 1.05% decline, while the S&P 500 Index saw a 0.91% drop, and the Nasdaq Composite Index tumbled by 1.28%. The majority of large-cap technology stocks mirrored this downward trend, with Nvidia experiencing a 1.83% slump, Apple sliding 1.82%, and Meta decreasing by 1.22%. Amazon, Microsoft, and Tesla each suffered losses exceeding 1%. In a notable deviation from the broader market trend, Google's stock surged by 3.11%, and Netflix witnessed a gain of over 3%.

The performance of popular Chinese American Depositary Receipts (ADRs) was a mixed bag, with the Nasdaq Golden Dragon China Index slipping by 1.21%. Among the gainers, iQIYI soared by over 6%, Baidu and 36Kr climbed more than 2%, Alibaba and NetEase advanced over 1%, and XPeng and Bilibili recorded marginal increases. On the flip side, Pinduoduo plummeted by over 7%, NIO dipped more than 1%, and Li Auto and Weibo experienced slight declines.