Chip Stock Sell-Off Intensifies as Nasdaq 100 Plunges 5%
On November 4, selling pressure intensified in the U.S. chip sector, with the Nasdaq 100 dropping 5% and the Philadelphia Semiconductor Index falling 36% from its June peak. Nvidia declined 7.9%, while Qualcomm and Arm fell on disappointing earnings guidance. Tesla and SpaceX each dropped about 10%. Investors are assessing the potential for increased regulation of AI-related deals following a Democratic sweep in Congress, prompting a shift to defensive sectors. U.S. Treasuries, the Japanese…
Chip Stock Sell-Off Intensifies as Nasdaq 100 Falls 5%
On November 4, the sell-off in the U.S. chip sector deepened, with the Nasdaq 100 Index dropping 5% and the Philadelphia Semiconductor Index falling 36% from its June peak. Nvidia declined 7.9%, while Qualcomm and Arm fell due to disappointing earnings guidance. Tesla and SpaceX each dropped by about 10%.
Investors are assessing how the AI trade might be affected by increased regulation following a Democratic sweep in Congress. Capital is shifting to defensive sectors such as consumer staples and healthcare. U.S. Treasuries, the Japanese yen, and the Swiss franc strengthened, while Bitcoin fell 5%.
Bloomberg
https://www.bloomberg.com/news/articles/2026-11-04/stock-market-today-dow-s-p-live-updates
