Key facts
- The Nasdaq fell 5.5% on Thursday, November 5, 2026, and entered correction territory.
- The S&P 500 dropped 4.4% and the Dow shed more than 1,800 points in the same session.
- Nvidia fell 9.3%, AMD sank 17.3% and the semiconductor index fell more than 12%.
- Roughly $2.9 trillion was erased from S&P 500 companies' market value on Thursday, per the report.
- Concerns that regulation and local resistance could slow data-center construction weighed on AI stocks, the report said.
The Nasdaq fell 5.5% on Thursday, November 5, 2026, entering correction territory as technology stocks led a broad sell-off, according to a report published November 6, 2026. The S&P 500 dropped 4.4% and the Dow shed more than 1,800 points in the same session.
Nvidia fell 9.3%, AMD sank 17.3% and the semiconductor index fell more than 12%. Roughly $2.9 trillion was erased from S&P 500 companies' market value on Thursday, the report said.
The report attributed the sell-off to concerns that regulation and local resistance could slow data-center construction, along with higher energy prices and uncertainty around interest rates.
Social media accounts and financial commentators posted jokes about the losses. Financial blog Zero Hedge compared the wipeout to "almost 3 Elons," referencing Elon Musk's fortune, which the Bloomberg Billionaires Index put at about $785 billion after the close, according to the report.