Stock market today · Updated November 11, 2026
Why is the stock market down today?
US stocks had their worst day since April 2025 on Thursday, November 5, 2026. The Nasdaq Composite fell −5.52% to 24,315.00 and entered correction territory, the S&P 500 fell −4.36% to 7,353.73 and the Dow lost 1,833.06 points (−3.44%). The cause was a sharp selloff in AI, chip and data-center stocks, as investors priced in a slower AI infrastructure buildout after the midterm election results.
By Konsta · Facts checked November 6, 2026
Latest completed session · Senntric data
Full recap: Wednesday, November 11, 2026Wednesday, November 11, 2026
- S&P 500 SPY▲ +1.30%$759.71
- Nasdaq 100 QQQ▲ +2.30%$690.26
- Russell 2000 IWM▲ +0.90%$283.11
Biggest moves among tracked large caps
- CRWV▲ +24.7%
SNDK▲ +13.7%
ARM▲ +12.1%- MU▲ +12.0%
The written explainer below covers the last big down day (Thursday, November 5, 2026). The numbers above update automatically after every close.
What happened · Thursday, November 5, 2026
Four reasons stocks fell on November 5.
- 01
Election results put the AI data-center buildout in doubt
Democrats made big gains in the midterms, including governor races in major data-center states such as Texas, and NBC News reported that hundreds of candidates who pledged to limit AI data centers were elected. Investors sold the companies whose growth depends on that buildout continuing at full speed.
- 02
Chip and memory stocks collapsed
The Philadelphia Semiconductor Index fell −12.3%, its worst day since March 2020. Memory and storage names fell hardest: SanDisk −22.2%, AMD, Micron and Western Digital about −17% each, Lam Research −16.5%. Nvidia fell −9.2% and lost more than $440 billion in market value.
- 03
Worries that Big Tech spending peaks early
The rally of the past year rested on ever-larger AI capital spending. Fears that the spending cycle tops out sooner than expected, plus Qualcomm’s weak outlook (the stock fell 9.5%), hit the whole AI supply chain at once.
- 04
Crowded winners and profit-taking
This year’s biggest gainers were sold first. The drop more than erased Wednesday’s post-election rally, the Magnificent Seven lost more than $1 trillion of market value combined, and every one of the S&P 500’s 11 sectors finished lower.
The full story, with the stocks that fell most and what “correction” means for the Nasdaq: Nasdaq enters correction: why tech stocks crashed on Nov 5, 2026.
Indexes
Tech led the drop.
- Nasdaq 100▼ −6.30%
- Nasdaq Composite▼ −5.52%
- S&P 500▼ −4.36%
- Dow Jones▼ −3.44%
- Semiconductors (SOX)▼ −12.30%
Index closes as reported by CNBC and NBC News. The VIX jumped 11.57 points to its highest since March 31.
Stocks
Chips and memory fell hardest.
- SanDisk SNDK▼ −22.2%
AMD AMD▼ −17.5%- Western Digital WDC▼ −17.4%
- Micron MU▼ −17.2%
- Lam Research LRCX▼ −16.5%
Seagate STX▼ −16.0%- Arm Holdings ARM▼ −13.0%
Qualcomm QCOM▼ −9.5%- Nvidia NVDA▼ −9.2%
- EPAM Systems EPAM▲ +21.5%
SNDK, AMD, WDC, MU, LRCX and EPAM from Senntric’s stored closes; others as reported by NBC News. EPAM was the standout gainer.
What to watch next
After the selloff, the next tests.
Overseas markets
The selling spread to Asia on Friday: South Korea’s Kospi fell more than 8% and triggered a trading halt, and Taiwan’s market fell about 9%.
Friday’s jobs report
The October jobs report is due Friday at 8:30 am ET. It is the next scheduled catalyst for the whole market, and for rate expectations.
Futures and the open
Early Friday, US futures were mixed: Nasdaq futures edged up while Dow futures fell. Whether chips stabilize decides if this is one bad day or a longer correction.
Is the market crashing?
Pullback, correction, bear market, crash.
The words describe how far prices have fallen from a high. None of them predicts what happens next.
Pullback
A drop of 5% to 10% from a recent high. Common, often several times a year.
Correction
A drop of at least 10% from a recent high. The Nasdaq Composite crossed this line on Nov 5, 2026.
Bear market
A drop of at least 20% from a high. The S&P 500 and Nasdaq are not there.
Crash
Not an official term. People use it for a sudden, very large one-day or few-day fall, like October 1987, March 2020 or April 2025.
Any day
How to find out why the market is down.
Most down days trace back to one of six things. Check them in this order.
- 01
Scheduled data
Jobs, CPI, retail sales and Fed decisions move the whole market at set times. A miss against expectations is the most common one-day trigger.
- 02
Rates and the dollar
A jump in Treasury yields hits richly valued growth and tech stocks first.
- 03
Megacap news
Nvidia, Apple, Microsoft and a few others are a large share of the S&P 500 and Nasdaq. Earnings or guidance from one of them can move the index.
- 04
Policy and politics
Elections, tariffs and regulation change the outlook for whole industries in a day, as Nov 5, 2026 showed for AI infrastructure.
- 05
Breadth and sectors
Is everything down, or one group? A tech-only drop with other sectors flat is a rotation; all 11 sectors red is a broad selloff.
- 06
Futures and overseas markets
Asian and European sessions and overnight futures show whether the selling is spreading or fading before the US open.
Senntric does this while the market moves: news and economic releases as they hit, audio squawk, alerts on unusual moves and an AI agent that explains what changed. After the close, every session gets a dated recap.
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The economic calendar, earnings and key levels for the week, before Monday’s open.
Stock market today
Why stocks are falling: questions
Why is the stock market down today?
US stocks had their worst day since April 2025 on Thursday, November 5, 2026. The Nasdaq Composite fell −5.52% to 24,315.00 and entered correction territory, the S&P 500 fell −4.36% to 7,353.73 and the Dow lost 1,833.06 points (−3.44%). The cause was a sharp selloff in AI, chip and data-center stocks, as investors priced in a slower AI infrastructure buildout after the midterm election results.
Why is the Nasdaq down today?
The Nasdaq is heavy in the AI, chip and data-center stocks that sold off hardest. On Thursday, November 5, 2026 the Nasdaq Composite fell −5.52% and the Nasdaq 100 −6.3%, with the semiconductor index down −12.3%. The Composite closed more than 10% below its recent high, which puts it in correction territory. The Nasdaq correction explained.
Why is the S&P 500 down today?
The S&P 500 fell −4.36% to 7,353.73 on Thursday, November 5, 2026, its worst day since April 4, 2025. Technology was the worst sector, Nvidia was the biggest drag, and all 11 sectors closed lower as the AI selloff spread.
Is the stock market crashing?
Thursday, November 5, 2026 was the steepest one-day fall for the S&P 500, Nasdaq and Dow since the April 2025 tariff shock, and the Nasdaq Composite entered a correction (10% below its high). That is a sharp selloff, not a bear market: a bear market needs a 20% drop from the high.
Why are chip stocks falling?
Chipmakers sell into the AI data-center buildout. After the midterm results raised the odds of slower data-center growth and tighter regulation, the Philadelphia Semiconductor Index fell −12.3%, its worst day since March 2020. Memory names such as SanDisk, Micron and Western Digital fell 17% to 22%.
What does correction territory mean?
An index is in correction territory when it closes at least 10% below its most recent high. It is a label for the size of the drop, not a forecast. A fall of 20% or more is called a bear market.
Should I sell my stocks when the market is down?
Senntric doesn’t give investment advice. Sharp one-day drops are when decisions are most emotional, so many traders check what actually changed (the news, the data, the levels) before acting. This page is educational information only.
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