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2026-11-05

Nasdaq enters correction as AI infrastructure stocks sell off after midterms

Stock Heatmap
Size = market cap (square-root scaled within sectors) · Color = day's change · Click a sector name to zoom, a tile to open the stock
Zoom into Information TechnologyInformation TechnologyAAPL-1.5%NVDA-9.3%MSFT-3.6%AVGO-10.4%MU-17.5%AMD-17.3%PLTR-9.7%CSCO-7.6%ORCL-6.9%INTC-10.3%AMAT-13.6%TXN-10.7%PANW-9.6%LRCX-16.4%CRWD-9.9%IBM-2.8%DELL-14.9%ANET-10.8%SHOP-6.1%ADI-11.1%KLAC-13.3%APH-9.3%CRM-2.1%QCOM-9.5%ACN+0.3%SNDKMRVLWDCSTXNOWGLW-12.9%ADBEINTUFTNTCDNSSNPSMSIDDOGNXPIHPEMPWRTELMSTRLITEADSKROPKEYSWDAYMCHPTERAKAMZoom into Communication ServicesCommunication ServicesGOOGL-2.2%GOOG-1.9%META-4.0%NFLX-1.3%DIS-1.4%VZ-0.1%TMUS+0.9%T-0.1%APPCMCSALYVSKYDTTWOTKOECHONWSANWSZoom into FinancialsFinancialsBRK.B-1.2%JPM-4.2%V-3.2%MA-2.5%BAC-3.6%MSGSWFCAXPCBLKZoom into IndustrialsIndustrialsSPCX-9.1%Zoom into Consumer DiscretionaryConsumer DiscretionaryAMZN-2.2%TSLA-10.8%HDMCDTJXLOWBKNGSBUXMARABNBZoom into Health CareHealth CareLLY-3.8%JNJ-1.4%ABBVMRKUNHTMOAMGNGILDABTZoom into Consumer StaplesConsumer StaplesWMT-1.1%COSTKOPGPMPEPZoom into EnergyEnergyXOM-2.4%CVXZoom into UtilitiesUtilitiesZoom into Real EstateReal EstateZoom into MaterialsMaterials
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Market Summary

Market & SentimentThe Nasdaq 100 fell 6.5% into correction territory, while the S&P 500 lost 4.4% and the Russell 2000 dropped 4.6%. Decliners overwhelmed advancers 434 to 73, and the VIX surged the most since April. Retail traders dumped the most stocks in a single day since the Covid sell-off, reflecting a broad rotation out of technology.

Sectors & StocksInformation technology was the worst sector, down 7.4%, followed by industrials and consumer discretionary. Micron, Western Digital, AMD and Marvell each fell more than 16% on fears that Democratic midterm wins could slow data-center spending. AppLovin jumped 31% on strong earnings and a larger buyback, while Motorola Solutions rose 4% after beating estimates and raising guidance.

Rates, FX & CryptoTreasury yields fell, with the 2-year down 12 basis points to 4.46% and the 10-year down 6 basis points to 4.84%. The dollar was little changed against the yuan and Singapore dollar but fell 0.4% against the euro. Bitcoin dropped 5.6% to $75,969 and ether fell 7.7%, as risk appetite weakened.

Earnings & AnnouncementsCigna raised its 2026 outlook after a strong quarter, and CVS Health gained 1.7% on its earnings and planned pharmacy separation. ConocoPhillips beat estimates and raised its dividend 11%. DTE Energy agreed to sell DTE Vantage for about $3 billion and increased its capital plan. FinDog moved Iron Mountain, Verisk, UPS, CF Industries and Live Nation to Bullish, and NVR to Bearish.

What to Watch Next Trading Day
  • Earnings from Humana, Moderna, Vistra and Charter
  • Monster Beverage and Franklin Resources report
  • Any updates on Iran tensions and oil prices
Top News
  1. Nasdaq falls into correction territory
    The Nasdaq's slide into correction territory puts its history of recoveries in focus, as investors weigh what typically happens next after such drops.
    CNBC11-05 21:57 UTC
  2. Retail traders dump stocks at Covid-era pace
    Retail traders sold the most stocks in a single day since the Covid sell-off, amid a broader market correction and rotation out of technology.
    CNBC11-05 21:20 UTC
  3. VIX surges most since April
    Wall Street's fear gauge moved more than 11 points from intraday low to high, the biggest one-day move since April 9, as traders think it should be even higher.
    CNBC11-05 17:34 UTC
  4. Debt-ceiling risk eyed after Democratic sweep
    Investors are watching for a potential debt-ceiling standoff after Democrats' sweeping midterm victories, which could complicate fiscal negotiations.
    Reuters11-05 16:38 UTC
  5. Tankers hit in Strait of Hormuz
    Tankers were struck in the Strait of Hormuz as Iran keeps up pressure after the US vote, raising concerns about oil supply disruptions.
    Reuters11-05 16:47 UTC
  6. Bank of England raises rates
    The Bank of England raised rates for the first time since 2023 and warned another move is likely, signaling a more hawkish stance amid inflation pressures.
    Reuters11-05 15:59 UTC
  7. ConocoPhillips beats, raises dividend
    ConocoPhillips beat estimates on higher oil prices and raised its dividend by 11%, returning more cash to shareholders.
    COPReuters11-05 15:24 UTC
  8. AppLovin jumps 31% on earnings and buyback
    AppLovin shares surged 31% after a strong earnings report and a larger buyback, separating the marketing platform from the infrastructure selloff.
    APPYahoo11-05 19:31 UTC
  9. Intel falls 9% on softer outlook
    Intel shares fell 9.1% as strong CPU demand was offset by a lower December-quarter revenue midpoint, adding to chip-sector woes.
    INTCYahoo11-05 19:32 UTC
  10. Nvidia and Microsoft on BofA top list
    Bank of America added Nvidia and Microsoft to its Top Global Stock List, highlighting their continued prominence in the AI landscape.
    NVDAMSFTYahoo11-05 19:34 UTC

Stories are selected and summarized by AI from the day's news coverage. Click a headline to read the original. Not investment advice.

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