On the evening of August 18 (Beijing Time), the three major US stock indices commenced trading on a weak note, with technology and chip stocks leading the downturn. Within the large-cap tech sector, notable players such as Meta, Tesla, and Nvidia witnessed a general decline. The chip industry also faced significant headwinds, with AMD and Intel among those experiencing substantial drops. Several stocks within the memory chip segment tumbled more than 5%. The performance of well-known Chinese American Depositary Receipts (ADRs) was a mixed bag. Alibaba stood out against the trend, surging over 2%. Conversely, Baidu suffered a sharp decline, plummeting more than 8%. iQIYI and Pony.ai also saw their shares drop by over 3%. NIO, XPeng, Li Auto, and Bilibili all experienced declines exceeding 1%. JD.com's shares dipped by 0.8%, while NetEase and Pinduoduo saw decreases of 0.48% and 0.41%, respectively.