Thursday, Nov. 5, 2026 · Market close 4:00 p.m. ET · By Juan Reina · Data: TradingView, Labor Department, company reports. We inform; we don’t give investment advice.
Key takeaways
- Worst day since April 2025 for the S&P 500 (−4.36%). The Nasdaq fell 5.52%, its steepest drop in 18 months, and the Dow shed 1,836 points.
- AI and chips led the rout for a second session after Democrats won both chambers of Congress. Investors are pricing in tougher rules for new data centers; UBS strategists estimate about 30% of data-center capacity planned for 2028 is at risk.
- Semiconductors had their worst day since March 2020: Micron −17.5%, AMD −17.3%, Marvell −16.4%, Broadcom −10.4%, Nvidia −9.3%.
- AppLovin bucked the trend, soaring 31% on a profit beat.
- Next: the October jobs report on Friday at 8:30 a.m. ET.
Figures are closing prices; data may be delayed about 15 minutes.
The indexes
| Index | Close | Change | YTD 2026 |
|---|---|---|---|
| Dow Jones | 51,523.06 | −3.44% | +7.1% |
| S&P 500 | 7,353.73 | −4.36% | +6.9% |
| Nasdaq Composite | 24,315.00 | −5.52% | +3.6% |
| Cboe VIX | 28.18 | +69.7% | — |
Technology and industrials were the worst sectors, each down more than 5%, while consumer staples held up best. The small-cap Russell 2000 ETF (IWM) lost 4.6% and the Nasdaq-100 ETF (QQQ) 6.5%.
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Open TradingView → · Affiliate linkWhy chip stocks crashed
The selloff is a political repricing of the AI trade. After Tuesday’s midterms, a Democratic Congress is expected to scrutinize energy use and permitting for data centers, and several data-center states saw local pushback at the ballot box. That hits the companies selling the chips and memory that fill those facilities. The pressure started overnight in Asia, where Korea’s Kospi fell 5.28% and SK hynix 9.03%. Qualcomm had its own problem: phone-chip sales fell 26% and missed estimates.
Biggest movers
| Stock | Ticker | Close | Change |
|---|---|---|---|
| AppLovin | APP | $356.10 | +31.0% |
| Krispy Kreme | DNUT | — | +30.7% |
| Tesla | TSLA | $343.69 | −10.8% |
| Palantir | PLTR | $154.99 | −9.7% |
| Oracle | ORCL | $115.16 | −6.9% |
| Meta | META | $605.08 | −4.0% |
| Microsoft | MSFT | $535.93 | −3.6% |
| Apple | AAPL | $344.17 | −1.5% |
| Tripadvisor | TRIP | — | −27.7% |
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Try Koyfin → · Affiliate linkWhat it means for your 401(k) or IRA
- S&P 500 index funds lost about 4.4% in one day, but are still up roughly 7% in 2026.
- Tech-heavy funds were hit harder: QQQ fell 6.5% and semiconductor funds more than 12%.
- Concentration risk: the largest AI names make up a big share of most U.S. index funds, so days like this show up in nearly every retirement account.
- Historical context: corrections of 10% or more happen on average about once a year; they are not the same as a bear market (−20%).
Data, yields and the Fed
Weekly jobless claims fell to 189,000 from 195,000, and third-quarter productivity rose 3.6%, faster than expected. The 10-year Treasury yield ended near 4.86%. Futures markets trimmed the odds of a Federal Reserve rate hike in December to about 70% from nearly 83% on Wednesday. Overseas, the Bank of England raised its rate to 4% from 3.75%.
After the bell
Airbnb rose after revenue grew 19% and it announced a $12 billion buyback; Cloudflare (revenue +39%), IonQ and Lam Research ($25 billion buyback) also gained. Atlassian fell about 16% on its revenue outlook and DraftKings about 22% after cutting its EBITDA forecast.
Colombia angle
Colombian ADRs fell with the market: Ecopetrol (EC) −2.4% to $15.54 and Grupo Cibest (CIB) −2.3% to $92.22; the COLO ETF lost 1.1%. The peso was steady near 3,231 per dollar. See our Colombia stock market close and what to expect tomorrow.
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FAQ
Why did the stock market drop today, Nov. 5, 2026?
A second day of heavy selling in AI and semiconductor stocks after Democrats won Congress, on fears of tighter rules for new data centers. The Nasdaq fell 5.52% and the S&P 500 4.36%.
Is the Nasdaq in a correction?
Yes. At 24,315, the Nasdaq Composite closed more than 10% below its October record, the usual definition of a correction.
Why did Micron and AMD fall 17%?
Both are heavily exposed to data-center spending. Micron fell 17.46% and AMD 17.26% as investors cut chip holdings across the board.
Why did AppLovin stock jump?
AppLovin rose 31% after beating profit estimates, with revenue above its own forecast range.
What time is the jobs report on Friday?
The October employment report is released Friday, Nov. 6, at 8:30 a.m. ET.
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