India VIX rose to 16.93, the highest level since Oct 28, 2026.

Putin met with Iran's National Security Council secretary to discuss Middle East issues.

On November 5th, the Nasdaq Composite Index closed down 5.52%, the S&P 500 Index closed down 4.36%, and the Dow Jones Industrial Average closed down 3.44%. Looking at market structure and specific details, capital concentration decreased, and market breadth improved somewhat. 1. The difference between the S&P 500 equal-weighted index and the market capitalization-weighted index rebounded from the previous trading day, reaching a new high since the end of July and near the upper limit of its nearly one-year fluctuation range, indicating that large-cap stocks fell more sharply, while other stocks were relatively more resilient. 2. The Russell 2000 index, representing small-cap stocks, closed down 4.45%, performing between the three major indices, having fallen to its lowest level since October 16th during the session. -------- Note: The difference between the S&P 500 equal-weighted index and the market capitalization-weighted index reflects the breadth of gains or losses in the US stock market and the concentration of market performance. 1. A widening difference indicates that more stocks are outperforming large-cap stocks. If the market rises, this means the upward momentum is spreading to more companies, and the market is likely to see a broad-based rally. If the market falls, it means that large-cap stocks are falling more sharply, while other stocks are relatively more resilient. 2. A narrowing difference indicates that market performance is more dependent on large-cap stocks. If the market rises, it means that the gains are mainly driven by large-cap stocks such as tech giants. If the market falls, it means that more small and mid-cap stocks are falling more sharply, while large-cap stocks are relatively more resilient. 3. A negative difference means that the equal-weighted index is underperforming the market capitalization-weighted index. However, whether there is a risk of over-concentration needs to be assessed in conjunction with the historical level and trend of the difference.