Nasdaq falls 3.2% and sits 10% below October 6 record close

Key facts

• The Nasdaq Composite fell 3.2% to 24,796.06, 10% below its record close of 27,599.89.
• A 10% drop from the most recent record close is considered a correction under a widely used definition.
• The move would mark a second correction for the index in 2026, Reuters reported.
• Reuters attributed the decline to AI spending worries and heightened scrutiny of data-center expansion.

The Nasdaq Composite Index fell 3.2% to 24,796.06 on November 5, 2026, leaving it 10% below its record close of 27,599.89 set on October 6, Reuters reported. A decline of 10% from the most recent record close is considered a correction under a widely used definition, and the move would mark a second correction for the index in 2026.

Reuters attributed the decline to worries about AI spending and heightened scrutiny of data-center expansion. The drop erased all the gains the index had logged in the prior session, which followed the Democrat sweep of both houses of Congress, as investors weighed the prospect of increased scrutiny of further AI buildout, the report said.