Nasdaq posts biggest daily drop in 19 months on fears of AI regulations
A Reuters article reports that the Nasdaq Composite fell 5.52% to 24,315.00 points on 5 November 2026, its deepest one-day drop in 19 months and a confirmation of a technical correction, as chipmakers sank on fears that Democrats' win of US Congress control in the midterms would bring tougher AI regulation. Nvidia dropped over 9%, the Philadelphia SE Semiconductor index plunged over 12%, and the selloff evaporated $3 trillion in stock market value from S&P 500 companies, which fell 4.36% to 7,353.73 points.
