November 6, 2026
On Thursday, Wall Street erased the gains of its best session in three months, following a broad selling wave led by chip stocks and companies linked to artificial intelligence data centers, amid growing concerns about the slowdown in the pace of building new centers and the high costs of financing them.
The S&P 500 index closed down by 4.4% at 7,353.73 points, recording its worst daily performance since the market turmoil that followed the announcement of US tariffs in April 2025. The Dow Jones index also lost 1,833 points, equivalent to 3.4%, while the Nasdaq index fell by 5.5% to reach 24,315 points, becoming a percentage lower. 11.9% from its record peak recorded last month.
In trading details, “NVIDIA” stock topped the list of pressures on the “S&P 500” index, declining by 9.3%, “Advanced Micro Devices” stock fell by 17.3%, while “CoreWave” stock lost 9.8%, and “GE Vernova” stock – which contributes to supplying data centers with energy – fell by 7.5%.
The data showed that concerns are not limited to the rise in the cost of borrowing and the inflation of technology stock valuations; The Democrats’ victory in the midterm elections raised questions among investors about the possibility of imposing temporary restrictions on the construction of new data centers, in light of objections to their direct impact on electricity bills. Any slowdown in construction activity is likely to dampen demand for chips, power supplies, and services associated with these projects.
In terms of other markets, Brent crude rose by 3.9% to reach $98.29 per barrel, recovering part of the losses of the previous session, which amounted to approximately 9%. In contrast, the ten-year US Treasury bond yield fell from 4.90% to 4.84%.
This selling pressure extended to Asian markets, where the South Korean “Kosspi” index fell by 5.3%, and the Japanese “Nikkei 225” index fell by 1.8%. As for the British capital, the FTSE 100 index fell by 0.4%, following the Bank of England’s decision to raise interest rates for the first time in three years.
