Thursday, November 5 was one of the worst days for tech stocks in years. The Nasdaq fell 5.5%, its worst day in about 18 months, and slipped into a correction, chip stocks had their worst day in years, and Bitcoin dropped to around $75,000–76,000 as the selling spilled into crypto. Here are the numbers and what happened.
Published November 5, 2026, after the market close. Updated with official closing numbers.
The day at a glance
| Nasdaq | -5.52%, closed at about 24,315 (correction: 10%+ below its record) |
| S&P 500 | -4.36%, closed at about 7,354 |
| Dow | -3.44% (down about 1,830 points), closed at about 51,523 |
| Chip stocks | Semiconductor ETF (SOXX) down more than 12% |
| Bitcoin | Down about 5%, from above $80,000 to the mid-$70,000s |
| Crypto liquidations | Roughly $700 million in 24 hours, mostly long bets |
Official closing figures.
What is a "correction"?
A correction is when an index falls 10% or more from its recent high. The Nasdaq set a record last month, so Thursday's drop pushed it past that line. It's a common event, it happens to markets every year or two, and it is not the same as a crash or a bear market (that's a fall of 20% or more).
Chip stocks took the biggest hit
The selling was led by the companies that make AI chips and data center hardware. How they closed:
| Stock | Move on Nov 5 |
|---|---|
| Nvidia | -9.3%, closed at $181.60 |
| AMD | -17.3%, closed at $404.40 |
| Micron | -17.5%, closed at $656.39 |
| Broadcom | -10.4%, closed at $291.53 |
| Intel | -10.3%, closed at $52.25 |
AMD and Micron were hit hardest, both down more than 17% in one session.
Why did it happen?
- Worries about AI spending. Investors are nervous that the huge build-out of AI data centers could slow down, which would hit the companies selling the chips.
- Qualcomm's weak outlook. Qualcomm beat its earnings estimates but pushed back its profit-margin recovery, and that dragged other chip names down with it.
- Money moving out of the winners. AI stocks have run up a lot this year, so when the mood turned, many investors sold to lock in gains.
- A big swing from the day before. Wednesday was one of the best days of 2026, so Thursday wiped out that rally and more.
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Bitcoin and crypto followed stocks down
Bitcoin slid about 5%, from above $80,000 to around $75,000–76,000, with one drop of almost $3,000 inside a single hour. Every coin in the top 20 turned red. Traders who had borrowed to bet on higher prices got squeezed: liquidations hit roughly $700 million in 24 hours, with about 83% of that coming from long positions.
Bitcoin often moves together with tech stocks on big risk-off days like this one. Crypto was already on edge after the record $6.3 billion Binance hack; see our 2026 crypto hacks tracker for the full list.
Who did well?
Not everything fell. ConocoPhillips beat estimates, AppLovin raised its outlook, and health insurers Cigna and Oscar Health raised their full-year forecasts. Toyota's profit fell 19%, but it raised its full-year operating profit forecast.
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What to watch next
- Whether chip stocks bounce on Friday or keep sliding.
- More tech earnings this month, especially Nvidia's results later in November, which will show whether AI demand is really slowing.
- Bitcoin holding the $75,000 area. A break below it could bring more forced selling.
Earlier this week: AMD's Q3 earnings beat, and our Q3 big tech earnings roundup.
FAQ
How much did the Nasdaq fall on November 5, 2026?
5.52%, closing at about 24,315 and entering correction territory. It was the Nasdaq's worst day in about 18 months.
Why did Nvidia stock drop?
A broad sell-off in AI and chip stocks on worries about slower data center spending, plus Qualcomm's weak outlook. Nvidia fell 9.3% to $181.60.
Why did Bitcoin fall?
It followed the tech sell-off, and leveraged traders were forced out, adding to the drop. Bitcoin fell from above $80,000 to the mid-$70,000s.
This is news, not financial advice.
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Sources
- Yahoo Finance: Nasdaq plunges 5% amid chip stock wipeout finance.yahoo.com
- Forbes: Chipmakers tumble toward worst day in years forbes.com
- The Motley Fool: Nasdaq suffers worst day in 18 months fool.com
- StockTitan: Stock market closes sharply lower on the AI chip selloff stocktitan.net
- Bitcoin Magazine: Bitcoin price drops below $75,000 amid tech rout bitcoinmagazine.com
- The Crypto Times: BTC falls below $77K as liquidations reach $718.5M cryptotimes.io
Written by the WIZY creator
A lifelong gamer and Warhammer painter from Calgary, Canada, and the maker of the Crusade Journal and the WIZY RPG game. I write about games, hardware, Warhammer and crypto in plain English, and I check every fact against its source.
