StocksMedium•5 November 2026•
1 min read
Tech Stocks Slump as Voter Rejection Hits AI Datacenter Projects
Key Facts
1Tech stocks suffered their largest selloff since Covid following voter rejection of data center projects.
Tech stocks suffered their largest selloff since the Covid pandemic following voter rejection of data center projects. Fortune reported that the decline hit chipmakers and networking equipment providers as investors grew concerned that the AI infrastructure boom could end prematurely due to public opposition to new facility developments.
Major technology names saw significant declines on November 5, 2026, with NVIDIA falling 8%, Microsoft dropping 2.8%, and Meta declining 3.4%. Chipmakers were among the hardest hit, as Micron and AMD both slumped roughly 14%, while the Philadelphia Semiconductor Sector index tracked toward its biggest single-day loss since March 2020.