On November 7 local time, the three major U.S. stock indices opened lower. As of 23:08, the Dow Jones fell by 0.36%, the S&P 500 fell by 0.85%, and the Nasdaq fell by 1.46%.

Major U.S. tech stocks fell across the board. NVIDIA, Tesla, Oracle, and AMD dropped over 3%, TSMC ADR fell over 2%, while Google, Amazon, and Meta declined over 1%. Apple and Broadcom saw slight declines.

In popular sectors, U.S. chip stocks experienced a broad sell-off, with the semiconductor sector falling and the Philadelphia Semiconductor Index dropping to a more than two-week low, down 2.8% recently. Microchip Technology fell over 8%, Marvell Technology dropped over 4%, and Advanced Micro Devices declined over 2%.

The Nasdaq Golden Dragon China Index opened lower, and as of the latest update, the decline widened to 2.19%. Popular Chinese concept stocks generally fell, with Pony.ai and WeRide dropping over 9%, XPeng Motors down over 6%, and Bilibili falling over 3%.

In precious metals, spot gold maintained a slight gain, quoted at $3,988.97 per ounce as of the latest update, up 0.3% for the day. COMEX gold was quoted at $4,004.2 per ounce.

Additionally, the cryptocurrency market also faced heavy selling. As of the latest update, Bitcoin fell over 2%, breaking below the $100,000 mark; Ethereum dropped nearly 4%, and XRP declined over 4%. According to Coinglass data, over the past 24 hours, more than 240,000 traders globally were liquidated, with total liquidation amounts reaching $772 million.