StocksMedium•4 November 2026•
1 min read
Nvidia and Chip Stocks Slide Following US Midterm Election Results
Key Facts
1Nvidia shares fell 1.5% while the Philadelphia Semiconductor Index dropped over 3% following US midterm election results.
2Micron Technology and Intel shares saw sharp declines of 5% and 3.7% respectively amid concerns over slowing data center construction.
Nvidia shares fell 1.5% while the Philadelphia Semiconductor Index dropped over 3% following US midterm election results. Invezz reported that Micron Technology and Intel shares saw sharp declines of 5% and 3.7% respectively, diverging from a broader market rally.
NVDA was trading at $202.78 on November 4, 2026, while MU was at $805.98 and AVGO was at $327.29 on the same date. These declines reflect concerns over potential cost increases or slower expansion for data center projects, following a session where INTC closed at $60.55 on November 3, 2026.
Market participants are looking ahead to the release of US Initial Jobless Claims on November 5, 2026, for further insight into macroeconomic conditions affecting the technology sector.