Stocks Steady Friday After Thursday's AI-Driven Plunge

The Dow Jones Industrial Average fell 1,834.84 points, or 3.44 percent, to 51,521.28 on Thursday, November 5, its worst day since April 2025, Anadolu Agency reported. The S&P 500 fell 4.3 percent and the Nasdaq Composite 5.5 percent, enough to put the Nasdaq in a correction, a drop of 10 percent or more from its high, ABC News reported. Chip stocks led the decline: the PHLX Semiconductor Index fell 12 percent and Nvidia 9 percent, its worst day since January 2025, according to Yahoo Finance.

Analysts tied the selloff to concern that AI data center construction could slow after Democrats, many of whom campaigned against new data centers, won control of Congress. Goldman Sachs estimated that about 45 percent of planned U.S. data center capacity could face restrictions, Yahoo Finance reported. The Dow had gained 1,570 points on Wednesday after the election results, ABC News reported.

Markets were mixed Friday after the stronger-than-expected October jobs report. As of about 2 p.m. Eastern, the S&P 500 was up about 0.7 percent and the Nasdaq about 1.4 percent, while the Dow was little changed, according to Yahoo Finance; the 10-year Treasury yield was about 4.85 percent. U.S. stock markets close at 4 p.m. Eastern.