德国DAX30指数11月4日（周三）开盘下跌34.61点，跌幅0.13%，报25866.30点； 英国富时100指数11月4日（周三）开盘上涨9.71点，涨幅0.09%，报10648.14点； 法国CAC40指数11月4日（周三）开盘上涨10.38点，涨幅0.13%，报8030.69点； 欧洲斯托克50指数11月4日（周三）开盘上涨14.29点，涨幅0.23%，报6158.85点； 西班牙IBEX35指数11月4日（周三）开盘上涨134.53点，涨幅0.72%，报18941.73点； 意大利富时MIB指数11月4日（周三）开盘上涨242.67点，涨幅0.49%，报50184.50点。

U.S. President Trump said his electoral defeat was unrelated to his cabinet.

The S&P 500 sits only about 3% below its latest record high, yet roughly 60% of constituents are trading in bear-market territory, Goldman Sachs' Bobby Molavi, EMEA head of execution services, warned. Molavi called the pattern a "stealth bear market," flagging the oddity that both AI-capex-heavy tech giants and the companies receiving that investment are being punished simultaneously. He said investors have exited AI-related names amid doubts over the sustainability of large AI spending, prompting a broad rotation that has hit tech hard in recent weeks. Over the past month most S&P 500 names have nevertheless risen as flows move from crowded trades into defensive and previously underweight sectors.