[Afternoon Commentary: The GEM Index fell more than 2% in half a day, and more than 4,800 stocks in the market fell] On October 23, the market fluctuated and adjusted in the morning, with the Science and Technology Innovation 50 Index falling by more than 3%, and the GEM Index falling by more than 2%. Several CSI 300 ETFs concentrated on heavy volume. The CSI 300 ETF Huatai-PineBridge (510300) had a turnover of over 8.5 billion, and the CSI 300 ETF E Fund (510310) had a turnover of over 4 billion. The half-day turnover of the Shanghai and Shenzhen stock markets was 1.07 trillion, which was 148.7 billion higher than the previous trading day. More than 4,800 stocks across the market fell. On the market, themes were weak in rotation, with Robot Huayang Intelligent, Zhengyu Industrial, and Xiangyang Bearing two consecutive boards; the large financial sector moved up, Hualin Securities rose by the daily limit, Huaxin Shares, Flush, and China Pacific Insurance rose one after another; near-end sub-new stocks performed actively, Guangdong Semiconductor touched the 20CM daily limit, and Zhanxin Shares rose nearly 7%. On the downside, computing power hardware fluctuated and adjusted, with Osconn and Huashengchang falling by the limit, and Xinyisheng, Zhongji InnoLight, and Tianfu Communications collectively falling. As of the close, the Shanghai Stock Exchange Index fell 1.2%, the Shenzhen Component Index fell 1.6%, and the ChiNext Index fell 2.14%.