{"id":86437,"date":"2026-11-05T11:55:43","date_gmt":"2026-11-05T16:55:43","guid":{"rendered":"https:\/\/stateofthenation.info\/?p=86437"},"modified":"2026-11-05T11:56:24","modified_gmt":"2026-11-05T16:56:24","slug":"86437","status":"publish","type":"post","link":"https:\/\/stateofthenation.info\/?p=86437","title":{"rendered":"<h1><b>TECH STOCKS PLUNGE&#8212;TRILLIONS WIPED IN A DAY!<\/b><\/h1>"},"content":{"rendered":"<p><!--more--><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-86438\" src=\"http:\/\/stateofthenation.info\/wp-content\/uploads\/2026\/11\/Screenshot-2026-11-05-at-11.54.35-AM.png\" alt=\"\" width=\"700\" height=\"356\" srcset=\"https:\/\/stateofthenation.info\/wp-content\/uploads\/2026\/11\/Screenshot-2026-11-05-at-11.54.35-AM.png 700w, https:\/\/stateofthenation.info\/wp-content\/uploads\/2026\/11\/Screenshot-2026-11-05-at-11.54.35-AM-300x153.png 300w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<div id=\"LiveStory-SpecialReport-featuredContent-4\" class=\"FeaturedContent-articleBody\" data-module=\"featuredContent\" data-test=\"featuredContent-0\" data-analytics=\"LiveStory-SpecialReport-featuredContent-4-0\">\n<div class=\"group\">\n<p>The <span id=\"LiveStory-SpecialReport-QuoteInBody-1\" class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><a href=\"https:\/\/www.cnbc.com\/quotes\/.IXIC\/\">Nasdaq Composite<\/a><span id=\"-WatchlistDropdown\" class=\"AddToWatchlistButton-watchlistContainer\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><\/button><\/span><\/span> plummeted on Thursday, erasing the sharp gains from the <a href=\"https:\/\/www.cnbc.com\/2026\/11\/03\/stock-market-today-live-updates.html\">previous session<\/a>, as investors accelerated their move away from technology stocks in the wake of the U.S. midterm elections.<\/p>\n<p>The tech-heavy Nasdaq declined 3.9% and dipped into correction territory, trading more than 10% below a record set last month. The <span id=\"LiveStory-SpecialReport-QuoteInBody-3\" class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><a href=\"https:\/\/www.cnbc.com\/quotes\/.SPX\/\">S&amp;P 500<\/a><span id=\"-WatchlistDropdown\" class=\"AddToWatchlistButton-watchlistContainer\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><\/button><\/span><\/span> was down 2.8%. The <span id=\"LiveStory-SpecialReport-QuoteInBody-4\" class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><a href=\"https:\/\/www.cnbc.com\/quotes\/.DJI\/\">Dow Jones Industrial Average<\/a><span id=\"-WatchlistDropdown\" class=\"AddToWatchlistButton-watchlistContainer\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><\/button><\/span><\/span> shed 1,153 points, or 2.2%, as gains in stocks such as <span id=\"LiveStory-SpecialReport-QuoteInBody-5\" class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><a href=\"https:\/\/www.cnbc.com\/quotes\/CVX\/\">Chevron<\/a><span id=\"-WatchlistDropdown\" class=\"AddToWatchlistButton-watchlistContainer\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><\/button><\/span><\/span> and <span id=\"LiveStory-SpecialReport-QuoteInBody-6\" class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><a href=\"https:\/\/www.cnbc.com\/quotes\/JNJ\/\">Johnson &amp; Johnson<\/a><span id=\"-WatchlistDropdown\" class=\"AddToWatchlistButton-watchlistContainer\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><\/button><\/span><\/span> were not enough to spare the 30-stock index from the tech selling spree. The Dow erased most of its advance from Wednesday\u2019s massive postelection rally.<\/p>\n<\/div>\n<div class=\"group\">\n<p>Stocks related to the artificial intelligence trade \u2014 particularly those linked to the chips industry and data centers \u2014 slid for a second day. Investors fear that a Democratic sweep of both chambers of Congress as well as victories in key gubernatorial races could <a href=\"https:\/\/www.cnbc.com\/2026\/11\/04\/ai-stocks-texas-governor-data-centers.html\">spell a slowdown of the data center buildout<\/a>.<\/p>\n<p>Chipmakers <span id=\"LiveStory-SpecialReport-QuoteInBody-8\" class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><a href=\"https:\/\/www.cnbc.com\/quotes\/AVGO\/\">Broadcom<\/a><span id=\"-WatchlistDropdown\" class=\"AddToWatchlistButton-watchlistContainer\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><\/button><\/span><\/span> and <span id=\"LiveStory-SpecialReport-QuoteInBody-9\" class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><a href=\"https:\/\/www.cnbc.com\/quotes\/NVDA\/\">Nvidia<\/a><span id=\"-WatchlistDropdown\" class=\"AddToWatchlistButton-watchlistContainer\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><\/button><\/span><\/span> each fell 6% Thursday, as did others such as software stock <span id=\"LiveStory-SpecialReport-QuoteInBody-10\" class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><a href=\"https:\/\/www.cnbc.com\/quotes\/ORCL\/\">Oracle<\/a><span id=\"-WatchlistDropdown\" class=\"AddToWatchlistButton-watchlistContainer\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><\/button><\/span><\/span>. Another chip stock, <span id=\"LiveStory-SpecialReport-QuoteInBody-11\" class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><a href=\"https:\/\/www.cnbc.com\/quotes\/QCOM\/\">Qualcomm<\/a><span id=\"-WatchlistDropdown\" class=\"AddToWatchlistButton-watchlistContainer\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><\/button><\/span><\/span>, reported earnings that <a href=\"https:\/\/www.cnbc.com\/2026\/11\/04\/qualcomm-qcom-earnings-report-q4-2026.html\">beat estimates<\/a><strong>,<\/strong> but the stock dropped 11% on a weaker-than-expected earnings outlook. The <span id=\"LiveStory-SpecialReport-QuoteInBody-13\" class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><a href=\"https:\/\/www.cnbc.com\/quotes\/SOXX\/\">iShares Semiconductor ETF (SOXX)<\/a><span id=\"-WatchlistDropdown\" class=\"AddToWatchlistButton-watchlistContainer\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><\/button><\/span><\/span> was down 11% at one point, which would be its worst day since the Covid-19 breakout of March 2020.<\/p>\n<p>Additionally, Elon Musk\u2019s <span id=\"LiveStory-SpecialReport-QuoteInBody-14\" class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><a href=\"https:\/\/www.cnbc.com\/quotes\/TSLA\/\">Tesla<\/a><span id=\"-WatchlistDropdown\" class=\"AddToWatchlistButton-watchlistContainer\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><\/button><\/span><\/span> and <span id=\"LiveStory-SpecialReport-QuoteInBody-15\" class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><a href=\"https:\/\/www.cnbc.com\/quotes\/SPCX\/\">SpaceX<\/a><span id=\"-WatchlistDropdown\" class=\"AddToWatchlistButton-watchlistContainer\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><\/button><\/span><\/span> dropped 9% and 7%, respectively.<\/p>\n<p>Shares of neocloud companies also retreated, with <span id=\"LiveStory-SpecialReport-QuoteInBody-16\" class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><a href=\"https:\/\/www.cnbc.com\/quotes\/CRWV\/\">CoreWeave<\/a><span id=\"-WatchlistDropdown\" class=\"AddToWatchlistButton-watchlistContainer\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><\/button><\/span><\/span> losing 9%, <span id=\"LiveStory-SpecialReport-QuoteInBody-17\" class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><a href=\"https:\/\/www.cnbc.com\/quotes\/NBIS\/\">Nebius<\/a><span id=\"-WatchlistDropdown\" class=\"AddToWatchlistButton-watchlistContainer\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><\/button><\/span><\/span> sliding 13% and <span id=\"LiveStory-SpecialReport-QuoteInBody-18\" class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><a href=\"https:\/\/www.cnbc.com\/quotes\/IREN\/\">Iren<\/a><span id=\"-WatchlistDropdown\" class=\"AddToWatchlistButton-watchlistContainer\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><\/button><\/span><\/span> shedding 14%, amid those worries about a <a href=\"https:\/\/www.cnbc.com\/2026\/11\/04\/data-center-ballot-measures-2026-midterm.html\">backlash to the industry<\/a> in light of the election results in various states.<\/p>\n<p>Investors are \u201cstepping away until they get a better sense of the implications of the midterms around the AI capex cycle in particular, which is the biggest economic tailwind we\u2019ve had going for us for the last, call it, three years,\u201d said Tim Holland, chief investment officer at Orion. \u201cIt\u2019s about tone and tenor from the party that did really well, incredibly well, at the federal level and at the state level.\u201d<\/p>\n<p>On Wednesday, the Dow <a href=\"https:\/\/www.cnbc.com\/2026\/11\/03\/stock-market-today-live-updates.html\">jumped more than 1,500 points<\/a> to notch its best day since April 2025 after a decisive midterm win for Democrats. The S&amp;P 500 and Nasdaq Composite also popped more than 1% each. Areas related to AI were under pressure, however, while economically-sensitive stocks rose.<\/p>\n<\/div>\n<\/div>\n<div id=\"LiveStory-SpecialReport-LiveBlogBody-5\" class=\"LiveBlogBody-articleBody\" data-module=\"LiveBlogBody\" data-test=\"liveBlogBody-1\" data-analytics=\"LiveStory-SpecialReport-liveBlogBody-5-1\">\n<div class=\"LiveBlogBody-postContainer\">\n<div id=\"108526406-post\" class=\"LiveBlogBody-post\">\n<div class=\"group\">\n<p>Declines for the super intelligence, or artificial intelligence, trade still have a long way to go, investment strategists at the Macro Research Board are warning on Thursday.<\/p>\n<p>\u201cThe shakeout in A.I.-related stocks has much further to run,\u201d the firm said in a Thursday note. Researchers said that \u201cinvestors are beginning to question excessive forward profit estimates.\u201d<\/p>\n<p>They recommend diversifying away from tech stocks amid general sensitivities in equities.<\/p>\n<p>\u201cIn this environment, our bet has been a churn in the aggregate U.S. and global stocks indexes (at least for now), but with a meaningful rotation underneath the surface (including divergences in the absolute price of stocks\/sectors),\u201d they said, adding that monetary and fiscal policy are not currently restrictive.<\/p>\n<p><em>\u2014 Tobias Burns<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>____<br \/>\n<a href=\"https:\/\/www.cnbc.com\/2026\/11\/04\/stock-market-today-live-updates.html\">https:\/\/www.cnbc.com\/2026\/11\/04\/stock-market-today-live-updates.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-86437","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/stateofthenation.info\/index.php?rest_route=\/wp\/v2\/posts\/86437","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stateofthenation.info\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stateofthenation.info\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stateofthenation.info\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stateofthenation.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=86437"}],"version-history":[{"count":2,"href":"https:\/\/stateofthenation.info\/index.php?rest_route=\/wp\/v2\/posts\/86437\/revisions"}],"predecessor-version":[{"id":86440,"href":"https:\/\/stateofthenation.info\/index.php?rest_route=\/wp\/v2\/posts\/86437\/revisions\/86440"}],"wp:attachment":[{"href":"https:\/\/stateofthenation.info\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=86437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stateofthenation.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=86437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stateofthenation.info\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=86437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}