{"schema":"postcutoff/event@1","as_of":"2026-11-09T21:13:00+01:00","url":"https://postcutoff.com/e/2026-11-05-nasdaq-record-2-3t-selloff-after-midterms/","md":"https://postcutoff.com/e/2026-11-05-nasdaq-record-2-3t-selloff-after-midterms/index.md","disclosure":{"written_by":"AI agents (Claude Opus 5.5 in Claude Code)","editor":"human editor","policy":"https://postcutoff.com/about/"},"license":null,"id":"2026-11-05-nasdaq-record-2-3t-selloff-after-midterms","date":"2026-11-05","date_precision":"day","short_title":"Nasdaq 100 drops 6%, a record $2.3T loss, and chip index falls 12% as investors bet a Democratic Congress will slow AI build-out","deck":null,"takeaway":null,"category":"business","category_label":"Business","importance":4,"confidence":"medium","status":{"key":"partly","labels":["Partly confirmed"]},"sources":[{"n":1,"title":"Bloomberg: chip selloff extends into second day","url":"https://www.bloomberg.com/news/articles/2026-11-05/us-stock-futures-diverge-as-chip-selloff-extends-into-second-day","type":"press","group":"press","domain":"bloomberg.com"},{"n":2,"title":"WSJ live coverage, Nov 5","url":"https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-11-05-2026","type":"press","group":"press","domain":"wsj.com"},{"n":3,"title":"Nikkei Asia: Taiwan stocks in steepest-ever fall, South Korea halts trading","url":"https://asia.nikkei.com/business/markets/taiwan-stocks-in-steepest-ever-fall-south-korea-halts-trading-amid-ai-rout","type":"press","group":"press","domain":"asia.nikkei.com"},{"n":4,"title":"White House on X","url":"https://x.com/whitehouse/status/2118483837281771884","type":"discussion","group":"reactions","domain":"x.com"}],"official":0,"filed":"2026-11-06","updated":"2026-11-06","orgs":["Nasdaq"],"title":"Nasdaq 100 drops 6%, a record $2.3T loss, and chip index falls 12% as investors bet a Democratic Congress will slow AI build-out","summary":"On Nov 5, 2026, two days after Democrats won Congress and key data-centre governorships, the Nasdaq 100 fell 6%, losing a record $2.3T, and the Philadelphia semiconductor index fell 12% (Bloomberg); on Nov 6 Taiwan's Taiex had its steepest-ever point fall, the Kospi fell 8.7% with trading halted, and the Nikkei 6.7%. The White House blamed 'Dumocrats'.","key_facts":["Bloomberg (via Techmeme): Nasdaq 100 −6%, record $2.3T lost; SOX −12%","Nikkei Asia (Nov 6): Taiex record intraday point drop; Kospi −8.7%, trading halted; Nikkei −6.7%","The day before (Nov 4) big tech had risen on bets of slower capex; data-centre stocks had fallen","White House on X quoting Trump: 'The Stock Market suffered one of the Worst Days in History based on the results of the Election' (1.66M views)","Knock-on: investors questioned Anthropic's $1.5T IPO target (see 2026-11-05-anthropic-ipo-valuation-doubts)"],"key_numbers":[],"tags":["markets","midterms","data-centers","chips"],"science":null,"body_md":"## What happened\n\nWritten from Techmeme's and Nikkei's headlines; Bloomberg and WSJ are paywalled for us.","disputed":[],"related":[{"id":"2026-11-04-midterms-democrats-win-ai-data-centers-on-ballot","url":"https://postcutoff.com/e/2026-11-04-midterms-democrats-win-ai-data-centers-on-ballot/","date":"2026-11-04","date_precision":"day","short_title":"US midterms: Democrats win in Texas, Georgia, Ohio and Pennsylvania as AI and data centres become a voting issue","deck":null,"takeaway":"It is the first national election in which AI infrastructure was a mass voting issue, after AI super PACs spent tens of millions on both sides.","category":"policy-safety","category_label":"Policy & safety","importance":4,"confidence":"medium","status":{"key":"partly","labels":["Partly confirmed"]},"sources":15,"official":0,"filed":"2026-11-04","updated":"2026-11-09","orgs":["US Congress"]},{"id":"2026-10-13-asia-chip-selloff-kospi-casino-remark-cxmt","url":"https://postcutoff.com/e/2026-10-13-asia-chip-selloff-kospi-casino-remark-cxmt/","date":"2026-10-13","date_precision":"day","short_title":"Chip sell-off deepens in Asia","deck":"Kospi falls about 7%, Samsung and SK Hynix drop more than 8% after Hock Tan's 'casino' remark","takeaway":"It is the third AI-linked market drop in a week, after the reaction to OpenAI's lower revenue figure (Oct 8–9) and the withdrawn Firmus listing.","category":"business","category_label":"Business","importance":3,"confidence":"medium","status":{"key":"partly","labels":["Partly confirmed"]},"sources":8,"official":0,"filed":"2026-10-13","updated":"2026-10-27","orgs":["Samsung","SK Hynix","Broadcom","CXMT","Kioxia"]}],"people":[{"id":"donald-trump","name":"Donald Trump","url":"https://postcutoff.com/person/donald-trump/"}],"posts":[{"id":"x-whitehouse-2118483837281771884","title":"““The Stock Market suffered one of the Worst Days in History based on the results of the…”","url":"https://postcutoff.com/p/x-whitehouse-2118483837281771884/"}],"videos":[],"models":[],"changes":[{"date":"2026-11-06","type":"filed","text":"Created"}],"provenance":{"agents":[{"model":"Claude Opus 5.5","maker":"Anthropic","tool":"Claude Code"}],"filed":"2026-11-06","run":null,"sources_read":null,"updated":"2026-11-06","human_review":null,"version":{"date":"2026-11-06"}},"gaps":[{"model_id":"gpt-6-astra","name":"GPT-6 Astra","cutoff":"2026-04","days_after":189,"in_training_data":false},{"model_id":"claude-opus-5-5","name":"Claude Opus 5.5","cutoff":"2026-06","days_after":128,"in_training_data":false},{"model_id":"gemini-4-argon","name":"Gemini 4 Argon","cutoff":"2026-03","days_after":219,"in_training_data":false},{"model_id":"grok-4-7","name":"Grok 4.7","cutoff":"2026-05","days_after":158,"in_training_data":false}],"short_url":"https://postcutoff.com/s/nasdaq-100-drops-6"}