Wall Street Plunges: Nasdaq Sinks 5.27% and S&P 500 Falls 4.13% in Chip Rout
Wall Street plunged as chip and AI stocks sold off: Nasdaq down 5.27%, S&P 500 down 4.13%, Dow down 3.26%. Brent rose 3.35% and Bitcoin fell 5.69%.
Wall Street suffered a broad sell-off on Thursday as a rout in chip and artificial intelligence stocks dragged the Nasdaq down 5.27% to 24,380.16. The S&P 500 lost 4.13% to 7,371.13 and the Dow Jones fell 3.26% to 51,617.11, wiping out the rally that followed the midterm elections.
The small-cap Russell 2000 fell 4.51% to 2,728.03, and Canada's S&P/TSX lost 2.1%. Brazil's Bovespa was a relative outlier, down 0.69%. The moves erased the gains from the previous session, when the Dow had closed at 53,356.12.
Chips and AI lead the decline
Semiconductor and AI-linked shares took the brunt of the selling. Among Nasdaq names, Datadog dropped 14.42%, Marvell Technology slid 10.62% and Lam Research fell 10.44%. Traders pointed to worries that the Democratic wins in both chambers of Congress could bring tighter rules for data-center buildouts, a concern that spread from chipmakers to software and infrastructure names.
The damage reached beyond technology. On the NYSE, CVS Health fell 12.53%, Eaton dropped 9.86% and GE Vernova lost 9.3%, the latter two both tied to the power and data-center trade.
Not everything fell. Some consumer and industrial names bucked the trend: 3M rose 9.55%, Lowe's gained 7.5% and Home Depot added 6.53%. On the Nasdaq, CDW climbed 12.67%, AppLovin rose 10.69% and Booking Holdings gained 9.83%.
Oil, gold and bonds
Defensive assets and energy moved the other way. Brent crude rose 3.35% to $97.79 a barrel and WTI gained 2.34% to $90.18, as uncertainty over the Iran conflict persisted. Our earlier report on oil after the US election covers that backdrop.
Gold climbed 1.03% to $4,099.97 an ounce, while copper, a gauge of industrial demand, slipped 2.49% to $6.269 a pound. The 10-year Treasury yield eased to 4.831% from 4.894%, a sign of money moving into government bonds.
The dollar index was little changed at 101.514, down 0.05%. The yen strengthened, with USD/JPY down 0.4% to 157.69, and the Australian dollar fell 0.91% against the dollar to 0.6943.
Crypto follows stocks lower
Digital assets fell in step with equities. Bitcoin dropped 5.69% to $75,849.02, Ethereum sank 7.34% to $2,245.12 and Solana lost 6.53% to $89.26. The synchronized slide in tech shares and crypto underlined how much risk appetite drained from markets in a single session.
Asia and Europe earlier in the day
Much of Asia traded before the New York sell-off. The IHSG in Jakarta closed up 2.57% at 5,030.26, the Hang Seng rose 3.67%, and Sydney's ASX 200 gained 2.61%. Tokyo's Nikkei 225 was the exception, falling 1.79% to 61,077.9. In Europe, the FTSE 100 and DAX each closed 0.43% lower, so the US losses arrived after those markets had shut.
That sets up a difficult handover for Asia on Friday. Jakarta, Tokyo and Hong Kong will open with the full weight of the Wall Street decline to digest, and the IHSG will start from its Thursday gain.
What to watch next
Attention turns first to whether the chip selling continues when US trading resumes. Charter Communications reports before the bell on Friday, and Constellation Energy, The Trade Desk and Take-Two Interactive follow on Monday. Applied Materials and Cisco are due on November 12, with Applied Materials a direct read on the semiconductor equipment sector at the center of the sell-off. Traders will also watch oil and the Iran headlines, which have kept Brent close to $98.
Markets at a glance
| Market | Last | Change | % Change |
|---|---|---|---|
| S&P 500 | 7,371.13 | −317.49 | −4.13% |
| Nasdaq | 24,380.16 | −1,356.35 | −5.27% |
| Dow Jones | 51,617.11 | −1,739.01 | −3.26% |
| Russell 2000 | 2,728.03 | −128.92 | −4.51% |
| S&P/TSX | 35,577.53 | −763.87 | −2.10% |
| Bovespa | 166,405 | −1,158 | −0.69% |
| USD/IDR | 18,087 | −15 | −0.08% |
| Gold (spot) | 4,099.97 | +41.95 | +1.03% |
Data as of 6 Nov 2026, 02:07 WIB (19:07 GMT). Source: JournalArta Markets (Yahoo Finance, Twelve Data); some exchange data may be delayed up to 15 minutes. Follow live prices on JournalArta Markets. This article is for information only and is not investment advice.
