On July 13, as the U.S. stock market drew to a close, the three major indices witnessed a collective downturn. The Dow Jones Industrial Average dipped by 0.26%, the Nasdaq Composite Index plummeted by 1.55%, and the S&P 500 Index slid by 0.79%. A majority of large-cap tech stocks followed suit, with Arm experiencing a sharp decline of over 7%, Intel dropping more than 6%, and SpaceX falling over 4%. Both Nvidia and Tesla saw their shares tumble by more than 3%, while Meta and Google each registered a decrease of over 1%. In contrast, Microsoft bucked the trend, rising by over 1%, while Amazon, Apple, and Netflix posted slight gains.

Among the popular Chinese American Depositary Receipts (ADRs), performance was a mixed bag. Dingdong and NIO both surged by more than 3%, with NetEase and JD.com not far behind, increasing by over 2%. Li Auto and Alibaba also saw modest gains. On the flip side, Baidu and Miniso both slumped by more than 3%, while Bilibili, XPeng Group, and Tiger Brokers experienced marginal declines.