Wall Street Erases $3.2 Trillion as Nasdaq 100 Sell-off Deepens to 6.4%

Key Facts

US equity markets erased $3.2 trillion in market value as the sell-off in technology stocks intensified. The Nasdaq 100 fell 6.4% while the Dow Jones Industrial Average dropped more than 1,700 points, as investors reacted to potential regulatory tightening on the AI sector following midterm election results.

The Democratic victory has heightened market expectations for stricter oversight of data center infrastructure. During the session, NVIDIA shares fell approximately 8% and Tesla dropped 12%, while the Philadelphia Semiconductor Index declined more than 9% on fears of slower AI infrastructure development.

Market participants are awaiting the release of US Nonfarm Payrolls and the Unemployment Rate on November 6, 2026, for further clarity on economic health following the recent political shifts.