Weekly Market Brief: November 5, 2026

Market pulse

Wall Street suffered a brutal reversal Thursday, erasing Wednesday's post-midterm rally: the Dow shed 1,833.06 points (-3.44%) to 51,523.06, the S&P 500 fell 4.36% to 7,353.73, and the Nasdaq Composite dropped 5.52% to 24,315.00 — closing in correction territory more than 10% below its Oct. 6 record, its worst day since the April 2025 tariff tantrum. Chip and AI names led the wipeout (Nvidia -9%, the Philadelphia Semiconductor Index -12%) as investors weighed what the Democrats' sweep of Congress means for AI regulation and data-center buildout; all 11 S&P 500 sectors finished lower. The VIX exploded roughly 70% to 28.18, its highest close since March, while Treasuries caught a safe-haven bid and the 10-year yield eased to about 4.84% from 4.89%. Crude bucked the risk-off tone, with WTI up nearly 3% on renewed Iran-war supply worries; the single biggest catalyst ahead is Friday's jobs report, with December Fed rate-hike odds still running near 79%.

Market News 8 stories 🔒 Full stories in Pro

1. Wall Street Suffers Worst Day Since April 2025 as AI Trade Unravels
2. Nasdaq Enters Correction for Third Time This Year
3. Chip Stocks Lead the Carnage: Nvidia -9%, AMD -17%, Broadcom -10%
4. Midterm Backlash Against Data Centers Is the Trigger Behind the Selloff
5. Mag 7 Sheds Over $1 Trillion as Wednesday's Hyperscaler Rotation Reverses
6. Tesla and SpaceX Extend Post-Election Slide; Power Names Crushed
7. Macro: Jobless Claims Hit a 57-Year Low Ahead of Friday's Payrolls Report
8. Fed on Hold at 3.75%-4.00% With December Hike Odds Still Elevated

Stocks to Watch 15 🔒 Our take on each in Pro