The stock market experienced declines with the S&P 500, Dow, and Nasdaq sliding amid mixed earnings reports from major tech companies and positive developments in US-China relations. Meta and Microsoft led tech declines after reporting earnings that included substantial charges and increased AI investments, causing their shares to drop approximately 9-12%. Alphabet, however, posted strong results, boosting its shares by over 7%. The broader market was affected by Federal Reserve Chair Jerome Powell's comments suggesting that interest rate cuts in December are not guaranteed, which unsettled investors expecting a rate reduction. Meanwhile, the Trump-Xi summit resulted in a trade truce, with the US agreeing to cut fentanyl tariffs on China to 10% and China delaying rare earth export restrictions by a year, easing some geopolitical tensions. The summit also led to gains in rare earth miners and U.S. agricultural exports. Despite the positive trade news, tech giants Apple and Amazon are anticipated to report mixed earnings, contributing to market caution. Additionally, Eli Lilly and other companies posted earnings surpassing expectations, while Chipotle’s shares plunged nearly 20% after cutting its sales forecast due to macroeconomic pressures. Notably, Alphabet's strong results and OpenAI’s potential IPO plans to value the company up to $1 trillion highlight ongoing corporate developments. Overall, the market showed volatility as investors balanced earnings results, monetary policy outlooks, and geopolitical news.