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Massive tech sell-off has Nasdaq 100 entering another correction

The Nasdaq 100 index has entered a correction, closing below 28,000 points on Monday after falling 10.4% from its October 6 high. Tech stocks erased more than $1 trillion in value as investors grew pessimistic about the artificial intelligence boom and reacted to earnings from Intel and Amazon. While some semiconductors led a brief rebound on Tuesday, the index plunged again on Thursday, November 5, with a 5% drop driven by a chip stock wipeout. Market volatility is further compounded by investor anxiety surrounding US midterm elections.

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  • ✓ The Nasdaq 100 closed below 28,000 points on Monday, marking a 10.4% decline from its October 6 peak.
  • ✓ Tech stocks wiped out more than $1 trillion in value due to deepening concerns about the AI boom.
  • ✓ The Nasdaq 100 has hit its third correction of 2026.
  • ✓ The Nasdaq 100 fell 5% on Thursday, November 5, amid a chip stock wipeout.
🛡️ Source Corroboration: 22 independent reporting domains (95% confidence) ⏱ Read time: ~2 min

What changed

The Nasdaq 100 fell an additional 5% on November 5 following a chip stock meltdown.

Live updates

  1. Nasdaq 100 Enters Third 2026 Correction Amid AI Sell-Off

    The Nasdaq 100 index has entered a correction, closing below 28,000 points on Monday after falling 10.4% from its October 6 high. Tech stocks erased more than $1 trillion in value as investors grew pessimistic about the artificial intelligence boom and reacted to earnings from Intel and Amazon. While some semiconductors led a brief rebound on Tuesday, the index plunged again on Thursday, November 5, with a 5% drop driven by a chip stock wipeout. Market volatility is further compounded by investor anxiety surrounding US midterm elections.

    Why it matters

    A correction typically occurs when an index drops 10% or more from its recent peak. This event marks the third such correction for the Nasdaq 100 in 2026. The decline reflects a broader shift as investors unwind bets on AI durability and megacap tech growth.

    What is confirmed

    • The Nasdaq 100 closed below 28,000 points on Monday, marking a 10.4% decline from its October 6 peak.
    • Tech stocks wiped out more than $1 trillion in value due to deepening concerns about the AI boom.
    • The Nasdaq 100 has hit its third correction of 2026.
    • The Nasdaq 100 fell 5% on Thursday, November 5, amid a chip stock wipeout.
    • Amazon and Intel earnings contributed to the fall of Nasdaq-100 futures.

    Still unconfirmed

    • The AI trade has entered a dangerous new phase that separates believers from skeptics.
    • A tech stock meltdown could worsen if historical patterns are a guide.

    What to watch next

    • US midterm election results
    • Upcoming key jobs report
    • Further megacap corporate earnings reports
    Sources used for this update (24)
    1. stocktwits.com — Stocktwits - Stock Market Live Quotes, Social Community...
    2. seekingalpha.com — Patient Capital Management Q3 2026 Commentary
    3. www.marketscreener.com — Global Stocks Fall on Higher Oil Prices, AI Pullback | MarketScreener
    4. www.coinlive.com — Anthropic Wants Users To Stop Bullying Claude — But Who Protects The Users?
    5. CNBC — Nasdaq-100 futures fall as Amazon and Intel swoon after earnings: Live updates
    6. NBC News — Tech stocks set to wipe out more than $1 trillion as concerns deepen about the AI boom
    7. Bloomberg.com — Nasdaq 100 Hits Third Correction of 2026 on Unwinding Tech Stock Bets
    8. Yahoo Finance — Tech stock meltdown could get a lot of worse if history is any guide
    9. Morning Brew — Massive tech sell-off has Nasdaq 100 entering another correction
    10. finance.yahoo.com — The Nasdaq 100 Briefly Fell Into a Correction as the AI Trade ...
    11. note.com — The continued decline in US tech stocks is a perfect buying opportunity, 3 stocks Dad bought ⭕️ Investment YT Roger Dad ⭕️ 1-day video summary
    12. economictimes.indiatimes.com — US Stock Market Live Updates: US stocks rise as oil tumbles on Iran peace hopes, investors eye midterm elections
    confidence 95%
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