On the evening of November 14th, Beijing time, the three major US stock indices opened significantly lower, with the Dow Jones Index falling below 47,000 points. However, subsequently, the Dow and S&P 500 narrowed their losses, and the Nasdaq turned positive. As of the time of writing, the Dow was down 0.74%, the Nasdaq up 0.06%, and the S&P 500 down 0.15%.

US semiconductor chip stocks rallied against the trend, becoming the main factor driving the recovery in market sentiment. As of writing, SanDisk rose over 7%, and Micron Technology rose over 6%. Shares of global chip leader Nvidia surged significantly, turning from losses to gains, up 0.82% as of writing.

Additionally, precious metal prices plummeted. The spot price of gold in London once fell over 3%, approaching the $4,000 per ounce mark. As of writing, spot gold in London was down 2.25% at $4,077.365 per ounce; the COMEX gold main contract fell 2.88% to $4,073.5 per ounce; silver prices also fell simultaneously, with spot silver down over 4% intraday, currently at $50.832 per ounce, down 2.78%.

Regarding the sharp decline in US tech stocks earlier this week, US investment bank Wedbush stated that after tech investors experienced "another very tough and brutal trading day," this tech sell-off is a buying opportunity. The institution believes that for tech stocks, the recent sell-off is just a brief moment of minor panic. As investors seek to participate in the AI revolution and the ongoing second, third, and fourth-order derivative effects in consumer and enterprise sectors, tech stocks will see significant gains for the remainder of the year.

Wedbush believes that Nvidia's earnings report next week will become another important validation moment for the AI revolution and serve as a positive catalyst for tech stocks until the end of the year.

In recent equity strategy notes, Sunil Tirumalai, Chief Strategist for Global Emerging Market Equities at UBS, opined that the market is still in the early stages of the tech and AI cycle. In fact, market microconditions are healthy, with AI investment funds coming from cash flows, and companies making substantial investments having low leverage. In emerging markets, companies benefiting from AI development account for about 23% of the MSCI Emerging Markets Index. These stocks contribute over 42% of the 2025 return rate and drive almost all earnings per share growth this year. UBS expects that EPS growth for AI stocks could remain above 20% in 2026, normalizing in 2027.