NEW YORK, NY, Nov. 5, 2026 — U.S. stocks gave back Wednesday's post-election surge on Thursday as investors sold technology and artificial-intelligence names after Democrats' midterm gains, according to market wraps from ABC News and Yahoo Finance.

The close

ABC News, in a story updated Thursday afternoon, said:

  • The Dow Jones Industrial Average closed down 1,833 points, or about 3.4%.
  • The S&P 500 finished down 4.3%.
  • The Nasdaq Composite fell 5.5%, putting the index into correction territory — a drop of more than 10% from a recent peak.

Yahoo Finance's live market blog showed the Dow at 51,523.06, down 1,833.06 (−3.44%) as of about 4:35 p.m. ET. That matches ABC's point drop.

Wednesday, the Dow had jumped 1,570 points, or about 3%, its best session in more than a year after midterm results, ABC reported — gains Thursday's selloff wiped out.

What got hit

Chip and AI-linked stocks led the slide, ABC and Yahoo Finance reported:

  • Nvidia closed down about 9%, ABC said.
  • Advanced Micro Devices fell about 17%, ABC said.
  • SanDisk plunged more than 22%, ABC said.
  • Microsoft closed down more than 3%; Amazon dropped more than 2%, ABC said.
  • The PHLX Semiconductor Index sank about 12%, Yahoo Finance reported.

Yorkville analyst Dan Ives told ABC News in a statement Wednesday, even as stocks climbed, that "The Democratic blue tidal wave across the Senate and House was a seismic shift that will have a negative impact on the pace of the AI Revolution buildout in the US over the next few years."

Retail selling and oil

Yahoo Finance cited Vanda Research saying retail investors sold a net $358 million in individual U.S. stocks by late afternoon Thursday — on pace for the biggest single-day retail net selling since March 17, 2020. "This is what we would call a total capitulation by retail investors," Vanda global macro strategist Viraj Patel said in emailed comments quoted by Yahoo Finance.

Oil rose amid Midterm and Middle East uncertainty, Yahoo Finance said; Brent traded around $98 a barrel in that wrap. Vice President JD Vance's post blaming the Iran war for Republican losses was cited in the same market narrative as traders weighed whether a settlement push could follow.

Florida angle

Florida retirees and 401(k) holders tied to broad index funds felt the same session as everyone else: a sharp one-day reversal after Wednesday's relief rally. Launchpad's midday Money brief tracked Florida pump prices after the midterm oil drop (AAA Florida average $3.83); Thursday's equity move is a separate risk-off day concentrated in tech.

Markets will next digest Friday's employment report and any further clarity on how a Democratic Congress approaches AI infrastructure and energy policy. Figures above are as reported by ABC News and Yahoo Finance after Thursday's close; Launchpad did not independently recalculate index levels.

Sources: ABC News (Max Zahn), Nov. 5, 2026; Yahoo Finance market live blog, Nov. 5, 2026; Dan Ives / Yorkville statement via ABC News; Vanda Research via Yahoo Finance.

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