Nasdaq Falls 5.5%, S&P 500 Drops 4.4% as Wall Street Sells Off
The Nasdaq Composite closed at 24,315, while the S&P 500 finished at 7,353.73 after a sharp Thursday sell-off.
U.S. stocks closed sharply lower Thursday, November 5, with the Nasdaq Composite falling 5.52% and the S&P 500 dropping 4.36%. The declines followed Wednesday's broad market rally.
The Nasdaq finished at 24,315, according to Nasdaq's index data. The S&P 500 closed at 7,353.73, down 334.89 points, according to Yahoo Finance's historical closing table. The Dow Jones Industrial Average lost 1,833.06 points, or 3.44%, Fox Business reported.
Technology, semiconductor and companies tied to AI infrastructure were among the hardest hit, according to Fox Business and NBC News. Nvidia fell about 9.26%, while the Philadelphia Semiconductor Index dropped more than 12%, Fox Business reported.
Fox Business said the Nasdaq closed in correction territory, meaning at least 10% below its October 6 record closing high. The losses also spread beyond chipmakers to data-center operators and companies supplying power and equipment for AI projects.
The session reversed the direction of the previous day's rally. The S&P 500's November 4 close was 7,688.62, compared with Thursday's 7,353.73, according to Yahoo Finance's daily records. The closing figures establish the size of the sell-off, rather than a single cause for it.