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Stocks sank
November 6, 2026
CBS News reports that stocks sank across the board, but technology companies with a hand in the AI sector were hit especially hard.
CNN reports that the market’s sudden reversal was striking: Futures initially fell when election results came in late Tuesday night, but on Wednesday morning, Wall Street had rallied as investors cheered Democrats’ gains. Dow futures were down 0.8% at 51,192.00, CBS News reports. S&P 500 futures gained ground, adding almost 0.3% to 7,402.50.
CBS News reports that stocks sank across the board, but technology companies with a hand in the AI sector were hit especially hard. CBS News reports that the drop means the tech-heavy index is now in a "correction," or down more than 10% from its most recent all-time high, set in October.
According to CBS News, Chris Larkin said, "Even though the market rallied Wednesday after the midterm elections, there were visible cracks in the AI ecosystem, and they widened on Thursday amid investor concerns about a potentially slower data center buildout with Democrats in charge of Congress".
CNN reports that the market’s sudden reversal was striking: Futures initially fell when election results came in late Tuesday night, but on Wednesday morning, Wall Street had rallied as investors cheered Democrats’ gains. Dow futures were down 0.8% at 51,192.00, CBS News reports. S&P 500 futures gained ground, adding almost 0.3% to 7,402.50.
CNN reports that a stunning $2.5 trillion was wiped off the value of the tech-heavy Nasdaq on November 5 as investors rushed to dump tech stocks, rattled by fears that Democrats’ midterm victories could slow the AI buildout. But another force made the sell-off more brutal: Investors who had borrowed heavily to bet on the boom were under pressure to sell. The Nasdaq Composite Index tumbled 1,422 points, or 5.5%, to close at 24,315, CBS News reports. The Nasdaq share index had its worst day in 19 months after slumping 5.5% on Thursday amid growing signs that the artificial intelligence industry will face tougher regulation because of the midterm election results, The Guardian reports.
Still developing
CNN reports that a stunning $2.5 trillion was wiped off the value of the tech-heavy Nasdaq on November 5 as investors rushed to dump tech stocks, rattled by fears that Democrats’ midterm victories could slow the AI buildout. But another force made the sell-off more brutal: Investors who had borrowed heavily to bet on the boom were under pressure to sell. The Nasdaq Composite Index tumbled 1,422 points, or 5.5%, to close at 24,315, CBS News reports.
How settled the reporting is
Sources
- CBS News — Dow sheds more than 1,800 points as midterm results spur investor exodus from tech and AI - CBS News
- CNN — What sparked Wall Street’s crazy sell-off?
- The Guardian — Nasdaq sees worst day in 19 months as investors bet on AI slowdown after Democrats’ election triumph
- Financial Times — The sell-off gets deep
- South China Morning Post — Asian tech stocks plunge as US midterm results fuel fears of an AI slowdown - South China Morning Post
Toggle read the full reports of 4 of the 6 outlets counted on this event. The other 2 are counted from their headlines and opening sentences.