Wall Street had its worst session since April 2025 on Thursday, November 5, 2026, as the AI trade unravelled: the S&P 500 fell 4.36% to 7,353.73, the Nasdaq Composite dropped 5.52% to 24,315.00 and the Dow Jones Industrial Average lost 1,833.06 points (3.44%) to 51,523.06. The Philadelphia Semiconductor Index fell about 12% and the VIX jumped almost 70% to 28.18. The selling spread to Asia on Friday: the Nikkei 225 closed about 6% lower and the Kospi about 6% lower after an intraday plunge of more than 8% triggered a circuit breaker. European stocks are down too, with the STOXX 600 off 1.6% at 08:10 GMT. The main event today is the US October jobs report at 13:30 UTC (consensus roughly +59,000 to +65,000 jobs, unemployment 4.2%). Data cut-off: 08:50 UTC (10:50 in Bucharest). The freshest source stamps are Reuters via Business Recorder (08:30 GMT; European data as of 08:10 GMT) and Saxo (rates and currencies early Friday), so futures, oil and European prices may have moved since.
Thursday, November 5, and Friday in Asia: how the main indices closed
| Index | Close | Change on the day |
|---|---|---|
| S&P 500 | 7,353.73 | -334.89 points (-4.36%) |
| Dow Jones Industrial Average | 51,523.06 | -1,833.06 points (-3.44%) |
| Nasdaq Composite | 24,315.00 | -1,421.52 points (-5.52%) |
| Nasdaq 100 | 26,629.81 | -6.36% (Capp Notes; Saxo shows -6.4% at the same level) |
| Russell 2000 | 2,729.89 | -4.45% (Capp Notes; single source for the level) |
| STOXX Europe 600 | 654.87 | -0.38% (Capp Notes, Saxo) |
| DAX | 26,325.01 | -0.43% (Capp Notes; Saxo -0.4%) |
| FTSE 100 | 10,782.66 | -0.43% (Capp Notes, JournalArta) |
| CAC 40 | 8,205.37 | +0.34% (Capp Notes, JournalArta; Saxo +0.3%) |
| Nikkei 225 (Friday, November 6) | About 57,411 | About -6.0% (-3,666.99 points per Tokenpost; sources differ: Investing.com -6.04%, NordFX 57,328 and -6.14%) |
| Kospi (Friday, November 6) | About 5,059.65 | About -6.0% (-6.02% per Tokenpost; NordFX 5,058 and -6.06%); intraday fall of more than 8% |
| STOXX 600 (Friday, 08:10 GMT, intraday) | 644.72 | -1.6% (Reuters via Business Recorder) |
Sources: the S&P 500, Nasdaq Composite and Dow closes agree across Capp Notes (last modified 22:42 UTC, November 5), the Motley Fool (article stamped 4:55 PM ET), JournalArta (market data 21:16 GMT), Saxo and Stock Titan (CNBC-sourced percentages, last update 8:10 PM ET); the Motley Fool’s text quotes the S&P 500 at 7,356 (-4.33%) but its quote data shows 7,353.73, which we use. The Russell 2000 level comes from Capp Notes only, and an ETF tracking it (IWM) fell 4.59% per Stock Titan, so treat the Russell figure as indicative. The Nikkei and Kospi come from Tokenpost (06:52 UTC), KuCoin News, Investing.com and NordFX; none is an exchange file, which is why small differences remain. Market-data summaries, not official exchange data.
Rates, oil, gold and currencies
| Market | Wednesday close (previous edition) | Thursday close | Friday morning |
|---|---|---|---|
| US 10-year Treasury yield | 4.89% | 4.84% (Capp Notes, AP; 4.837% JournalArta) | About 4.83% (Saxo) |
| US 2-year Treasury yield | 4.58% | 4.46% (about -12 bp) | About 4.46% (Saxo) |
| US 30-year Treasury yield | 5.28% | 5.25% | Not confirmed |
| WTI crude | $88.12 | $90.52 (+2.7%; Motley Fool $90.54) | Not confirmed |
| Brent crude | $94.62 | $98.29 (+3.8%; Capp Notes, AP) | About $100 (Saxo); NordFX about $99.8; timing differs |
| Gold | $4,070.20 | About $4,088 to $4,098 (sources and contracts differ) | Not confirmed |
| Dollar index (DXY) | 101.53 | 101.60 | Not confirmed |
| EUR/USD | About 1.1235 | About 1.1222 | Below 1.1190 (Saxo) |
| VIX | 16.61 | 28.18 (+69.66%) | 28.17 (Saxo, about 05:00 CET) |
| Bitcoin | About $80,230 | About $75,855 (-5.66% over 24 hours) | About $75,755 (Saxo, about 05:00 CET) |
Yields, oil, gold, the dollar and bitcoin close levels are from Capp Notes, cross-checked with AP and JournalArta; Friday figures are from Saxo and NordFX, whose time stamps are partial. Saxo also reports the Japanese 10-year yield down more than 12 bp to 2.66% and USD/JPY back above 158. A tick-by-tick quote page we saw showed oil and gold levels that conflicted with these, so they are not used.
What moved markets on Thursday
The AI trade unravelled. According to the Motley Fool, the sell-off came from investors reassessing the AI investment cycle and returns on data-centre spending, and from concern about restrictions on data-centre building after the Democratic midterm win. Reuters, as relayed by Yahoo Finance, adds that the Texas governor-elect called for a pause on new data-centre construction; we treat this as a report and have not seen the statement. Per Stock Titan (official closes), Micron fell 17.46%, AMD 17.26%, Marvell 16.43%, Arm 13.08%, Broadcom 10.43%, Intel 10.33%, Qualcomm 9.49% and Nvidia 9.26% (to $181.60). Reuters, via Business Recorder, said about $3 trillion was wiped off S&P 500 companies. Capp Notes puts the technology sector at -8.00% while the Motley Fool cites -5.54%, so the sector figure is uncertain; every S&P 500 sector fell in Capp Notes’ data. AppLovin was a standout, up 31.04% after results.
Data and the Fed. US jobless claims fell by 6,000 to 189,000, below every forecast in Saxo‘s summary; Q3 productivity rose 3.6% annualised against 2.8% expected and unit labour costs fell 0.7% against +0.6% expected (Capp Notes). Treasury yields fell, the 2-year by about 12 bp. Per CME FedWatch, as cited by CNBC via Stock Titan, the chance of a December rate rise was 70.1%, down from 82.7% on Wednesday; Saxo also puts it near 70%.
Bank of England hikes. The Bank raised Bank Rate by 25 bp to 4.00% from 3.75%, its first rise since 2023, in an 8-1 vote, with Catherine Mann preferring 4.25%. Governor Bailey said another increase seems likely unless the Middle East conflict is resolved, and the central scenario has inflation peaking at 4.8% in the second quarter of 2027 (Reuters via Yahoo Finance). Bloomberg headlines in our search results speak of a unanimous hike and 4.9% inflation, so reports differ on both points. The FTSE 100 closed 0.43% lower.
Oil rebounded. Brent rose 3.8% to $98.29 and WTI 2.7% to $90.52 after Wednesday’s drop of about 8%. JournalArta links the rise to renewed Iran war risks, and NordFX cites tanker attacks and uncertain US-Iran talks; both are reports we could not confirm at the source.
Europe held up until the US open. The STOXX 600 closed 0.38% lower and the DAX 0.43% lower, while the CAC 40 gained 0.34%. In Saxo’s summary ASML fell 6.6%, Soitec 16.7% and Rheinmetall 16.1% (after cutting its sales forecast), and Air France-KLM rose 12.1%.
After the close and overnight
After hours, moves differ by source and time, so ranges are shown: Cloudflare +14.6% (Stock Titan) to about +17% (Capp Notes), Airbnb about +7% to +11%, Atlassian about -16%, DraftKings -18% to -22% and Monster Beverage -5% to -6.4%. The SPY fund was down 0.27% at 19:01 ET (Stock Titan).
Asia. The Kospi closed down about 6.0% at 5,059.65 after a fall of more than 8% triggered a 20-minute halt (its 11th circuit breaker of the year per KuCoin); SK Hynix fell more than 10% and Samsung Electronics 6.35% at the close (Tokenpost), after trading about 10% lower earlier (TradingKey). The Nikkei 225 fell about 6%, which Tokenpost says puts it more than 20% below its June closing peak, a technical bear market; decliners outnumbered advancers 3,589 to 118 on the Tokyo exchange (Investing.com). Reuters said SoftBank fell 11% and Kioxia 14% in the morning. NordFX, with no times stated, lists the Hang Seng at -1.08%, the Shanghai Composite at -1.14% and the ASX 200 at -0.49%; we have a single source for these.
US futures. The last time-stamped reading we found is from 00:39 GMT (Reuters via Yahoo Finance): S&P 500 futures +0.26%, Nasdaq 100 futures +0.83% and Dow futures -0.15%. That predates the European and Asian losses described above, so it may no longer be valid.
Europe at 08:10 GMT. The STOXX 600 was down 1.6% at 644.72 and about 0.2% lower on the week, with most major regional benchmarks down more than 1%; media, health care and retail each fell more than 2%. Teleperformance dropped 18% after cutting its revenue growth outlook (Reuters via Business Recorder).
Friday, November 6: what is scheduled
| Time (UTC / Bucharest / ET) | Event | Consensus | Previous / note |
|---|---|---|---|
| 07:00 / 09:00 / 02:00 | Germany September industrial production | Not provided in our sources | Already released; result not verified |
| 13:30 / 15:30 / 08:30 | US October nonfarm payrolls | +59,000 (Kiplinger, “economists”); about +65,000 (Capp Notes, NordFX) | September: +29,000 |
| 13:30 / 15:30 / 08:30 | US October unemployment rate | 4.2% (Kiplinger, Capp Notes) | 4.2% |
| 13:30 / 15:30 / 08:30 | US October average hourly earnings | No consensus found; Deutsche Bank forecasts +0.3% m/m (Kiplinger) | +0.1% m/m |
| 15:00 / 17:00 / 10:00 | University of Michigan preliminary November sentiment | Not provided in our sources | n/a |
| 15:00 / 17:00 / 10:00 | Canada October Ivey PMI | Not provided in our sources | n/a |
| Before the US open | Earnings: Enbridge, Moderna | EPS consensus not available in our sources | Calendar from Saxo; confirm times with each company |
Saxo notes that options price a move of about 1.49% in the S&P 500 on the payrolls release. Calendar items are from Saxo and Kiplinger; the consensus for payrolls differs by source, and the official release comes from the US Bureau of Labor Statistics. Our Enbridge Q3 2026 earnings preview covers today’s report.
The next trading days
Next week brings KKR and Constellation Energy (Monday, November 9), SoftBank Group and Infineon (Tuesday, November 10), Siemens Energy, E.ON and RWE (Wednesday, November 11), and Cisco, Applied Materials, Siemens, Allianz, Enel, Brookfield, Merck and Nu Holdings (Thursday, November 12), per Saxo. Check each company’s investor-relations page for exact dates and times.
Sources
- Capp Notes, Closing Look, Thursday, November 5, 2026 (last modified 22:42 UTC, November 5)
- Stock Titan, Stock Market Today, November 5, 2026 (last update 8:10 PM ET)
- The Motley Fool, Stock Market Today, November 5, 2026 (4:55 PM ET)
- JournalArta, Wall Street close (market data 21:16 GMT, November 5)
- Saxo, Market Quick Take, 6 November 2026
- Business Recorder (Reuters), European shares fall as global AI rout gathers pace (08:30 GMT, data as of 08:10 GMT) and Asia stocks crumble after AI rout (07:41 PKT)
- AP via KSAT, Nikkei falls more than 6% (00:43 UTC, November 6)
- Tokenpost (06:52 UTC), KuCoin News, TradingKey, Investing.com Japan close and NordFX Market Pulse
- Yahoo Finance (Reuters), Bank of England raises rates (November 5) and Yahoo Finance (Reuters), US stock futures (00:39 GMT, November 6)
- Kiplinger, What to expect from the October jobs report (November 5)
All market-data summaries and commentary above are from the media and data sites listed and are labelled as such; they are not exchange or company filings. Press reports we could not confirm are described as reports.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Figures come from the sources listed, as of the times stated, and may be revised. Market-data summaries can differ slightly from official exchange figures. Confirm current prices with your broker. Investing involves risk, including the possible loss of capital.
