AI-linked chip losses weighed on U.S. technology stocks on Nov. 5, when the Nasdaq Composite was down 3.6% in an Associated Press snapshot at 10:10 a.m. ET.
In a separate snapshot at 10:10 a.m. ET, the Associated Press reported the Dow Jones Industrial Average was down 502 points, or 0.9%, and the S&P 500 had fallen 2%. The Nasdaq Composite was down 3.6% at that time, AP reported.
AP also reported that Nvidia fell 6.3%, Advanced Micro Devices 13.1% and CoreWeave 10% in its morning report. Advancers narrowly outnumbered decliners in the S&P 500, the outlet said.
The decline followed a strong session Wednesday, Nov. 4. The S&P 500 rose 1.6%, its largest one-day percentage gain in three months, while the Dow gained 3% and the Nasdaq Composite advanced 1.4%, AP reported.
AP reported that investors were concerned elevated borrowing costs could curb the pace of AI data-center construction. It also said Democratic election victories raised the prospect that government agencies could pause such construction. Reuters reported that UBS strategists put roughly 30% of expected 2028 data-center additions at risk from potential pauses. Reuters also reported rising public opposition to rapid data-center expansion in some states.
The U.S. Bureau of Labor Statistics (BLS) scheduled its October Employment Situation report for Friday, Nov. 6, at 8:30 a.m. ET.
