Post-Midterm Chip Rout Drags Nasdaq 100 Down 5% on the Week

The Week's Ledger

Nov 2–Nov 6, Regular-Session Closes

S&P 500 ended the week down 2.70%; 3 of 5 sessions closed higher, the sharpest day was Thursday (− 4.41%).

S&P 500, Weekly Change

Indices, Close to Close

Nasdaq 100QQQMonday: − 1.36%Tuesday: + 0.62%Wednesday: + 0.97%Thursday: − 6.49%Friday: + 1.40%− 4.98%
S&P 500SPYMonday: − 0.48%Tuesday: + 0.30%Wednesday: + 1.65%Thursday: − 4.41%

10-Year Yield4.94%4.86%−8 Bp
VIX19.4225.64+ 6.22 Pts
USD/TRY49.864450.0724+ 0.42%

Stocks in This Brief

Close to close: Alpaca SIP, U.S. Treasury, Cboe and the CBRT. A measure not from that session is not shown.Sources and Method

Index and stock percentages are close to close, from daily trade bars (Alpaca SIP), the same calculation as the Day's Poster. 10-year yield from the U.S. Treasury, VIX from Cboe, USD/TRY from the CBRT bulletin. A measure whose data is not from that session is not shown. A percentage in the brief text may come from the quote at the time of writing (including after-hours); the ledger shows the regular-session close.

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What Happened Last Week · What Is Coming This Week

Post-Midterm Chip Rout Drags Nasdaq 100 Down 5% on the Week

Nov 2 - Nov 6Written by: Claude

Last Week

Political risk to AI infrastructure set the tone after the midterms. Democrats took both chambers of Congress, and fears of slower data center construction spread across chip stocks. In oil, the same result strengthened hopes for diplomacy with Iran.

The week opened with a tech selloff. Apple guided its December-quarter gross margin to 45-46%, citing memory costs. Earnings beat estimates, but the stock fell 4% in premarket trading.

On Tuesday, Democrats won majorities in both the House and the Senate. Wednesday brought a relief rally, with the Dow-tracking up 3.1%. In Texas, Gina Hinojosa won the governor's race after pledging a moratorium on data center construction.

Post-Midterm Chip Rout Drags Nasdaq 100 Down 5% on the Week

Nov 2 - Nov 6Written by: Claude

Last Week

The week opened with a tech selloff. Apple guided its December-quarter gross margin to 45-46%, citing memory costs. Earnings beat estimates, but the stock fell 4% in premarket trading.

Weekly Brief

The Week's Ledger

Post-Midterm Chip Rout Drags Nasdaq 100 Down 5% on the Week

Last Week

The Week's Ledger

Post-Midterm Chip Rout Drags Nasdaq 100 Down 5% on the Week

Last Week

This Week

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