Nasdaq Falls 5.5% as US Technology Shares Decline
US stocks declined on November 5, 2026, with technology companies involved in AI data-center construction accounting for a concentration of the losses, according to the Associated Press. The Nasdaq Composite ended the session in correction territory.
The Nasdaq finished at 24,315.00, a decline of 1,421.52 points, or 5.5%, according to the Associated Press. Charles Schwab put the index about 12% below its October 6 record, exceeding the 10% decline that marks correction territory.
Chip stocks were among the shares that fell. Charles Schwab said Advanced Micro Devices lost 17%, while Nvidia declined more than 9%. The PHLX Semiconductor Index registered a 12.2% decrease during the session.
The losses extended across the other US stock benchmarks. At 7,353.73, the S&P 500 closed 4.4% lower, according to the Associated Press. The Dow Jones Industrial Average ended at 51,523.06 after losing 1,833.06 points, a 3.4% decline.
In commentary published by Charles Schwab, Nathan Peterson, director at its Center for Financial Research, stated that financing and the rate of AI infrastructure expansion were sources of concern, and that the midterm election result had heightened those concerns. He also stated that questions remained about whether spending on AI by large technology companies would generate adequate returns.
The declines came a day after gains across all three benchmarks. On November 4, the Dow advanced more than 1,500 points, the S&P 500 increased 1.6% and the Nasdaq gained 1.4%, according to the Associated Press.
* This article is based on publicly available information at the time of writing.