Wall Street endured a massive downturn as every single sector within the S&P 500 closed in the red, heavily dragged down by information technology and industrials. Mega-cap tech sustained the most severe damage, with Nvidia plunging more than 9% and erasing over $440 billion of its value in a single session. Additionally, the Technology Select Sector SPDR Fund plummeted 8.04% amid more than triple its normal trading volume.
Key points
Growing investor skepticism surrounding the pace of artificial intelligence buildouts tri…: Growing investor skepticism surrounding the pace of artificial intelligence buildouts triggered severe losses across equity markets.
Widespread market breadth deterioration left more than half of all Nasdaq-100 constituent…: Widespread market breadth deterioration left more than half of all Nasdaq-100 constituents down at least 20% from their 52-week highs.
The severe contraction in technology shares drove both the Nasdaq Composite and the small…: The severe contraction in technology shares drove both the Nasdaq Composite and the small-cap Russell 2000 into official correction territory.
Sources checked by our analysis pipeline: 1
A trader works on the floor of the New York Stock Exchange (NYSE) at the opening bell in New York City on November 4, 2026.
Timothy A. Clary | Afp | Getty Images
Stocks suffered a major sell-off on Thursday as investors' fears about a slowdown in the buildout of artificial intelligence rocked not only the trade itself but also the broader market.
The tech-heavy Nasdaq Composite receded more than 5% and finished in correction territory alongside the small-cap Russell 2000 index. The blue-chip Dow Jones Industrial Average retreated more than 1,800 points, or more than 3%, and the broad market S&P 500 pulled back more than 4%.
Those moves gave back the big gains seen in Wednesday's postelection rally and then some.
Here are the most breathtaking statistics from the day's rout:
- The Nasdaq Composite posted its worst performance in a single day since April 4, 2025, when it fell 5.82%
- The S&P 500 notched its worst single-day performance since April 4, 2025, when it declined 5.97%
- The Dow Jones Industrial Average secured its worst day…
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