The market saw a unilateral decline in the afternoon, with the ChiNext Price Index leading the losses. The Shanghai Composite Index dropped more than 100 points, falling below 3300 points. Over 4800 individual stocks experienced a decline, with more than 1500 stocks dropping by over 5%. The total trading volume for Shanghai and Shenzhen stock markets reached 1.79 trillion, an increase of 178.4 billion from the previous trading day. On the market, e-commerce concept stocks surged at one point, with Global Top E-commerce, Nanji E-commerce, and Truly Love Home among those hitting the limit up. The rare earth permanent magnet sector showed activity in the afternoon, with Western Magnetic Technology and Chengdu Galaxy Magnets rising by over 10%, and Advanced Technology & Materials hitting the limit up. High-profile popular stocks continued to strengthen against the trend, with Guangxi Yuegui Guangye Holdings hitting the 10th consecutive trading limit, while Guangdong Dongfang Precision Science & Technology, Tianjin Bohai Chemical, among others, also hit the trading limit up. On the decline side, the PV concept stocks collectively fell, with Hainan Drinda New Energy Technology and others dropping by over 5%; chip stocks fluctuated and trended lower, with Tongfu Microelectronics and others dropping by over 5%. In terms of sectors, only the Internet E-commerce sector saw an increase, while sectors like PV, photoresist, CRO, and securities led the declines. As of the close, the Shanghai Composite Index fell by 3.06%, the Shenzhen Component Index fell by 3.52%, and the ChiNext Price Index fell by 3.99%.