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On March 12th, at the close of the trading day, the three major U.S. stock indices all took a hit. The Dow Jones Industrial Average dipped by 1.56%, the Nasdaq Composite Index tumbled 1.78%, and the S&P 500 Index fell 1.52%. In the tech sector, large-cap stocks experienced a broad decline. Arm's stock dropped more than 4%, Tesla's shares slumped over 3%, Meta's fell more than 2%, while Nvidia, Apple, Amazon, and Google all saw their stocks decline by more than 1%. Netflix and Microsoft also witnessed slight decreases. Among the popular Chinese ADRs, most also faced a downturn. iQIYI's stock plummeted more than 4%, Bilibili and Li Auto both dropped over 2%, and Alibaba, Pinduoduo, and Baidu saw their shares fall more than 1%. However, XPeng's stock rose more than 3%, and NIO's increased by over 1%.
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