StocksMediumUpdated•Originally published 5 November 2026•Updated 5 November 2026•
1 min read
Nasdaq Enters Correction Territory Following 5.1% Plunge
Key Facts
1The Nasdaq fell 3.09% as losses in chip and data center-related stocks intensified.
2The semiconductor index dropped 7.1%, with Nvidia, Advanced Micro Devices, and Intel weighing heavily.
3The declines followed the Democrats' midterm election victory.
The Nasdaq plunged 5.1% on Thursday, officially entering technical correction territory. This decline followed intensifying investor concerns regarding the data center sector in the wake of the Democratic Party's sweep in the U.S. midterm elections.
Major technology stocks faced heavy selling pressure, with NVDA closing at $200.13 and AMD at $488.78 on November 4, 2026. INTC finished at $58.27 and MRVL closed at $171.97 on the same date, as markets reacted to potential regulatory shifts following the November 3, 2026, election results.