--- title: "U.S. stock market midday update: Reddit down 4.22%: Video features and governance benefits fail to mask valuation pressure" type: "News" locale: "en" url: "https://longbridge.com/en/news/289496784.md" description: "Reddit fell 4.22%; Google-A fell 2.59%, with a transaction volume of $6.346 billion; Meta fell 1.88%, with a transaction volume of $4.428 billion; Google-C fell 2.57%, with a transaction volume of $3.911 billion; Baidu fell 3.69%, with a market value of $38.5 billion" datetime: "2026-06-11T17:17:55.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/289496784.md) - [en](https://longbridge.com/en/news/289496784.md) - [zh-HK](https://longbridge.com/zh-HK/news/289496784.md) --- # U.S. stock market midday update: Reddit down 4.22%: Video features and governance benefits fail to mask valuation pressure **U.S. Stock Market Midday Update** Reddit fell 4.22%, with increased trading volume. Based on recent key news: 1. On June 11, Reddit announced that users would be able to use video features in comments. This new feature may enhance user interaction and increase platform activity, but its short-term impact on stock prices is limited. Source: Reuters 2. On June 10, Reddit's annual shareholder meeting approved all proposals, including the election of directors, approval of auditors, and executive compensation. The passage of these governance measures indicates stability in the company's management, but failed to significantly boost stock prices. Source: Simply Wall St 3. On June 9, Reddit's Benzinga Edge signals indicated good growth prospects, but significant valuation pressure. Although long-term investors may see opportunities, stock prices still face challenges in the short term. Source: Benzinga The social media industry has been highly volatile recently, and investment should be approached with caution. **Top Stocks by Trading Volume in the Industry** Google-A fell 2.59%, with increased trading volume. Based on recent key news: 1. On June 9, Google provided a $35 billion chip deal guarantee for Anthropic, demonstrating its significant investment in the AI sector. This move may increase Google's capital expenditure pressure, affecting stock performance. Source: Jin10 Data 2. On June 9, Alphabet's ex-dividend date led to stock price adjustments, with investors' reactions to its large-scale capital expenditures and AI investments exacerbating the decline in stock prices. Source: Benzinga 3. On June 11, Wolfe Research raised Google's revenue and capital expenditure estimates, although the market underestimates its cloud business growth potential, concerns about the intensity of capital expenditures remain. Source: Investing.com The AI investment boom intertwined with geopolitical risks requires caution. Meta fell 1.88%, with increased trading volume. Based on recent key news: 1. On June 11, Meta completed a business spin-off with Chinese AI startup Manus and ceased data sharing. This move was to meet the requirements of Chinese authorities, canceling a $2 billion acquisition deal, leading to market uncertainty about Meta's future development and a decline in stock prices. Source: Bloomberg 2. On June 11, Citigroup analysts pointed out that investors are increasingly concerned about the potential risks of AI infrastructure financing, and despite support from tech giants, Meta-related bonds may still be affected, leading to increased market sentiment volatility. Source: Citigroup 3. On June 9, former Meta executive Craig criticized tech giants for aligning with Trump in a podcast, noting that this strategy could change product operation models, affect market positioning, and put pressure on stock prices. Source: Caixin Technology and healthcare industries face transformation and challenges Google-C fell 2.57%, with increased trading volume. Based on recent key news: 4. On June 10, Google provided a $35 billion financing guarantee for Anthropic's data center construction, demonstrating its massive investment in the AI field. This move may increase Google's capital expenditure pressure, leading to a decline in stock prices. Source: Jinshi Data 5. On June 9, Google's ex-dividend date took effect, causing an automatic adjustment in stock prices. Investors' reactions to the company's large-scale capital raising and increased AI spending exacerbated the stock's weakness. Source: Benzinga 6. On June 11, Google discussed cooperation with Samsung to produce the next generation of AI chips, showing its continued investment in technological infrastructure, but market concerns about the intensity of its capital expenditures may affect stock prices. Source: The Information AI investment surged, and market volatility increased. **Stocks ranked among the top in industry market capitalization** Baidu fell 3.69%, with increased trading volume. Based on recent key news: 1. On June 9, the U.S. Department of Defense listed Baidu among Chinese military enterprises. This move raised market concerns, leading to a decline in Baidu's stock price. Baidu expressed opposition to the decision, stating that it lacks justifiable reasons. Source: Zhitong Finance 2. On June 9, Citigroup analysts believed that Baidu's listing would have limited impact on its fundamentals, as historical precedents show it would not lead to substantial sanctions. Source: Economic Information Daily 3. On June 9, Baidu announced that the Department of Defense's procurement restrictions would not affect its business, emphasizing that the list is not a sanctions list. 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