[CITIC Securities: U.S. Stocks May Experience Short-Term Volatility Until December FOMC Meeting] CITIC Securities' research report pointed out that the decline in U.S. stocks on November 20 was driven by macro factors, primarily due to the better-than-expected September non-farm payroll data and hawkish remarks from the Federal Reserve, which triggered profit-taking in the market. Considering the marginal weakening of the U.S. labor market, the December Federal Reserve FOMC meeting may mark the peak of "hawkish panic" sentiment, and the market's trading focus may shift to Trump's nomination battle for the new Federal Reserve Chair. The fundamentals of the AI sector remain solid, and the extreme narrative of an imminent "AI bubble burst" is unlikely to materialize in the short term. U.S. stocks may experience short-term volatility until the December FOMC meeting, with funds potentially rotating into defensive sectors. It is recommended to focus on technology, manufacturing, resource products, energy infrastructure (nuclear power), military industry, internet diagnostics, and financial (banking) sectors.