According to CoinMeta, U.S. stocks faced significant selling pressure on Thursday, with technology stocks being the hardest hit. The Dow Jones Industrial Average, the S&P 500 Index, and the Nasdaq Composite Index all saw their largest declines of 2.38%, 3.57%, and 5.35% respectively at one point, while the Philadelphia Semiconductor Index tumbled to a 11.6% decline. NVIDIA experienced a sharp drop of 9%, and TSMC, SpaceX, and Tesla each fell by 11%. Forbes' real-time list of billionaires showed that Elon Musk's wealth decreased by $91.2 billion on a single day, a 10.50% drop; Michael Dell, the founder of Dell Technologies, saw a decrease of $20.5 billion, or 9.60%; NVIDIA CEO Jensen Huang saw a decrease of $15.1 billion, or 8.70%; Larry Ellison, the founder of Oracle, lost $13.2 billion, or 8.05%; and Mark Zuckerberg, the founder of Meta, saw a decrease of $12.9 billion, or 5.98%. The combined wealth of these five billionaires shrank by $152.9 billion in a single day, with Musk's loss accounting for nearly 60% of the total reduction. This decline in wealth mainly reflects the impact of falling stock prices of related listed companies on the valuation of the billionaires' holdings.