EL7.AI
StocksMedium•5 November 2026•
1 min read

Nasdaq Tumbles 3.09% as Chip Rout Intensifies Post-Midterms

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 fell 3.09% as losses in chip and data center-related stocks intensified. The Business Times reported that the semiconductor index dropped 7.1%, with Nvidia, Advanced Micro Devices, Intel, and Marvell Technology weighing heavily on the sector. These declines followed the Democrats' midterm election victory, which has sparked market concerns over stricter regulations and potential impacts on AI and data center projects.

Sector stocks saw significant downward movement, with NVDA closing at $200.13 and AMD closing at $488.78 on November 4, 2026. INTC closed at $58.27 and MRVL finished at $159.80 on the same date. In the related manufacturing space, TSM closed at $395.75 on November 4, 2026, amid a broader market reaction to the election results from November 3, 2026.

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