US stocks fell sharply on Thursday, November 5, 2026, with the Nasdaq dropping 4% as investors pulled back from semiconductor and data-center shares, according to WSJ.
The decline was not confined to the tech-heavy index. CNBC reported that the Dow tumbled 1,500 points, wiping out the gains it had made following the midterm elections. CNBC put the Nasdaq's loss at 5%, a steeper figure than the 4% cited by WSJ. ABC7 New York also reported a 1,200-point Dow drop and said the Nasdaq had entered correction territory.
Coverage from several outlets linked the selloff to unease about artificial intelligence. CBS News reported that stocks cratered as investors retreated from technology companies amid AI risks. CNN reported that the midterm results sent the AI trade into a tailspin.
The reports differ on the size of the moves, and the figures above are as each outlet described them. The common thread across the coverage is a broad exit from the chip and data-center names that had led the market higher.
What to watch next: whether the selling continues into the next session, and whether chip and data-center stocks stabilize or extend their losses.
