Nasdaq Enters Technical Correction as US Stocks Plunge in Tech Sell-off

Key Facts

The Nasdaq Composite closed down 5.5%, officially entering technical correction territory according to TradingView data. The S&P 500 recorded its worst daily performance since April 2025, falling 4.4%, while the Dow Jones Industrial Average declined 3.4%. Reports indicated that a massive sell-off in the technology sector erased all gains made following the U.S. midterm elections.

Investors reacted to power and funding bottlenecks, which triggered a meltdown led by major technology shares. In the bond market, the 10-year Treasury yield dropped 5 basis points to 4.845%, and the 2-year yield declined to 4.57%. This market action occurred alongside economic data showing initial jobless claims fell to 189,000 on November 5, 2026, coming in below the forecasted 196,000.

Market participants are looking ahead to U.S. inflation data scheduled for release on November 10, 2026, including the annual inflation rate and Core CPI figures. Additionally, several Federal Reserve officials, including Bowman and Goolsbee, are set to deliver speeches on November 9, 2026, which may provide further clarity on the monetary policy outlook.