Wall Street Sheds $2.5 Trillion as Nasdaq Hits Correction
By Damilola Esebame
AI summary of the source article
Wall Street's AI infrastructure trade lost roughly $2.5 trillion on November 5 as the Nasdaq Composite fell 5.52% into correction territory amid fears that Democratic midterm gains could slow data-center buildouts.
Key facts
- The Nasdaq Composite closed more than 10% below its October 6 record high, while the S&P 500 fell 4.4% and the Dow lost over 1,800 points.
- The Philadelphia Semiconductor Index plunged 12.3% in its worst single-session decline since March 2020, led by double-digit drops in Micron and AMD.
- Bitcoin fell roughly 6.5% to approximately $75,500, triggering about $1 billion in cryptocurrency position liquidations.
Source excerpt · FinanceFeeds
The AI infrastructure trade lost roughly $2.5 trillion in market value on November 5 as investors dumped chip, cloud and data-center stocks in the sharpest single-session selloff since April 2025. The Nasdaq Composite fell 5.52% and closed in correction territory, trading more than 10% below its October 6 record high, CNN reported. Nasdaq, S&P 500 and Dow Suffer Worst Session Since April 2025 The…