Today, the U.S. stock market suffered a sudden and severe downturn, with major indices falling across the board. The Nasdaq technology sector, in particular, led the market decline, drawing widespread attention from investors.

In today's trading, the Nasdaq Composite Index (Nasdaq) was the first to give way, closing down by 296.48 points, a drop of 1.60%, to 18,276.65. This decline not only set a new low in recent times but also severely undermined investor confidence in technology stocks. Within the Nasdaq technology index, the declines of Arm Holdings and Pinduoduo ADR were particularly striking, falling by 6.67% and 4.8%, respectively, making them the two leading stocks in the decline.

At the same time, the S&P 500 Index and the Dow Jones Industrial Average were not spared. The S&P 500 Index closed down by 53.78 points, a drop of 0.92%, to 5,797.42. The Dow Jones Industrial Average, on the other hand, closed down by 409.94 points, a drop of 0.96%, to 42,514.95. The decline of these two indices further intensified the market's panic sentiment.

It is worth noting that among the constituents of the S&P 500 Index, the photovoltaic inverter manufacturer Enphase Energy suffered the most significant decline, reaching 14.92%. In addition, stocks such as Seagate Technology, McDonald's, First Solar, Qualcomm, and Meta all fell by more than 3%, indicating the market's pessimistic expectations for these stocks.

Advertisement

However, amidst the general market decline, some stocks showed strong resilience. In the Nasdaq technology index, Texas Instruments rose against the trend by 4.01%, becoming a bright spot in the market. In the S&P 500 Index, Northern Trust NTRS rose by 7.02%, leading the entire market.

Furthermore, the Philadelphia Semiconductor Index also showed a certain degree of divergence. Although Arm suffered the largest decline, TSMC ADR rose against the trend by 1.2%, demonstrating the complexity within the semiconductor industry.

The market's decline also triggered an increase in the panic index. Today, the VIX panic index closed up by 5.71%, at 19.24, setting a new high in recent times. This increase reflects investors' concerns and uncertainty about the future market trend.

In summary, today's decline in the U.S. stock market has dealt a significant blow to investors. The leading decline of the Nasdaq technology sector, in particular, has severely challenged investor confidence in technology stocks. Going forward, investors need to closely monitor market dynamics and changes in economic conditions to formulate reasonable investment strategies to cope with potential risks.