US Stock Market Move | Nasdaq drops 1.83%, popular tech stocks generally fall, Intel Corporation (INTC.US) drops more than 6%

On Tuesday, the three major U.S. stock indexes opened lower collectively, with the Nasdaq falling by 1.83%. Star tech stocks were generally down, with Intel Corporation (INTC.US) falling by over 6%, NVIDIA Corporation (NVDA.US), Broadcom Inc. (AVGO.US), and Oracle Corporation (ORCL.US) all dropping by over 4%, and Tesla, Inc. (TSLA.US) and Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR (TSM.US) falling by over 3%. On the news front, despite signals of openness from both China and the U.S. in trade negotiations, market observers from institutions such as Morgan Stanley, Evercore ISI, and J.P. Morgan still believe that investors eager to buy on the dip need to be cautious. Short-term volatility risks have not dissipated, as high valuations combined with the risk of a U.S. government shutdown and trade uncertainty could amplify economic losses. Furthermore, the U.S. government shutdown has now lasted for 13 days, leading to chaos in federal public affairs and government workers and having a negative impact on financial markets. U.S. Treasury Secretary Mnuchin warned on Monday that the shutdown has already affected the economy. Republicans and Democrats remain at an impasse over funding plans, and since the start of the shutdown at the beginning of the month, several air traffic controllers calling in sick have caused airport delays, while the closure of iconic landmarks has impacted the tourism industry.