Follow-Up: S&P 500 Falls 2.7% on the Week, Nasdaq in Correction as Chips Bounce After Thursday Rout
U.S. stocks rebounded on Friday, November 6, but still ended the week sharply lower. The S&P 500 finished Friday up 0.31 percent at 7,376.86, yet lost 2.68 percent on the week. The Nasdaq Composite gained 1.09 percent on Friday to 24,579.42.
The rout came on Thursday, November 5. The Dow Jones Industrial Average fell 1,833.06 points, or 3.44 percent, to close at 51,523.06. The S&P 500 dropped 4.36 percent to 7,353.73. The Nasdaq Composite sank 5.52 percent to 24,315.00, putting it more than 10 percent below its October record, the textbook definition of a correction. The Philadelphia Semiconductor Index plunged 12.25 percent, its biggest one-day drop since March 2020.
Chips took the worst of it. Nvidia fell 9.26 percent on Thursday, AMD dropped 17.26 percent, Micron slid 17.46 percent and SanDisk cratered 22.26 percent. On Friday, chips led the bounce: AMD surged 11.04 percent, Nvidia rose 2.78 percent, Micron added 5.12 percent and the VanEck Semiconductor ETF jumped 3.62 percent, though AMD still closed about 7 percent below its pre-earnings level.
CNBC tied the selling to concern over tighter regulation for the artificial-intelligence industry and slower approvals for the giant data centers that buy all those chips, after Democrats' midterm sweep. AMD had just reported third-quarter results on November 3: revenue of $13.4 billion, up 45 percent from a year earlier, with data center sales of $8.5 billion, up 97 percent, and fourth-quarter revenue guidance of about $17 billion.
Source: AFP
Published by GSM · USA (original Chinese edition)
Photo: 图：美国联邦储备委员会大楼（资料图）。The Federal Reserve Board building. (file photo)
Aflac Reports Third-Quarter Net Earnings of $303 Million, or $0.61 per Share: Total Revenues Fell 31.0% to $3.271 Billion; Fourth-Quarter Dividend of $0.61 Declared2026-11-08
Mercer's Third-Quarter Net Loss Narrows to $59.2 Million: Revenue Falls About 4% to $440.7 Million as a Restructuring Support Deal Covers $1.275 Billion of Notes and $400 Million of New Capital2026-11-08