Nasdaq Plunges Into Correction Territory, Dow Drops More Than 1,800 Points (Connecting the Dots: The Nasdaq, The Belizean Grove, The Bohemian Club, The Alfalfa Club, The Carlyle Group, The Economic Club of Washington & The Carnegie/Soros Network)
U.S.
stocks experienced a sharp reversal from the previous day’s post-election
rally.
The
Epoch Times
Andrew
Moran
11/5/2026|Updated:
11/5/2026
A
sell-off in tech stocks has pushed the Nasdaq composite index into correction
territory.
The
tech-fueled index dropped by 1,421 points, or 5.52 percent, to 24,315 on Nov.
5.
The
sharp decline leaves the Nasdaq more than 10 percent below the
record closing high it set last month, meeting Wall Street’s definition of a
correction. But it is still up by approximately 5 percent year-to-date.
The Dow
Jones Industrial Average—a 30-stock blue-chip index—erased more than 1,800
points, or 3.44 percent. The broad-market S&P 500 fell by 334 points, or
4.36 percent, to 7,353.
Both
leading benchmarks remain up, by 7 percent and 7.4 percent, respectively, this
year.
The
Russell 2000—an index of 2,000 small-cap companies—dropped by more than 4
percent.
President
Donald Trump blamed the midterm election results for one of the worst days in
the U.S. stock market’s history.
“Such a
sad thing to watch!” the president wrote on Truth Social. “It took so much work
to get us to a level that no one has ever seen before, and then this. Your
401(k)s have, therefore, dropped.”
The
sell-off follows a post-election rally a day earlier, when investors welcomed
political certainty and divided government. The Dow posted its best day since April 2025,
soaring by more than 1,500 points.
“Yesterday’s
stock market rally in the face of the Democratic landslide made no sense. In
contrast, today’s sell-off makes perfect sense. Expect more days like today,”
Peter Schiff, chief economist and global strategist at Euro Pacific Asset
Management, said on X.
Stocks
linked to the artificial intelligence trade largely contributed to the
sell-off. Other sectors—consumer staples, energy, healthcare, and
utilities—held steady.
Investors
may be concerned that a federal- and state-level blue wave that swept through
midterm elections could threaten the AI boom. A chorus of lawmakers has argued
for more AI regulation, and some have gone as far as to call for a moratorium
on data-center construction.
Shares
of chipmakers Advanced Micro Devices, Broadcom, Nvidia, and Qualcomm slumped.
The widely watched iShares Semiconductor ETF—a popular index composed of
chipmakers—fell by about 12 percent.
Neocloud
companies—CoreWeave, IREN, and Nebius, for example—also plummeted. The
industry—cloud computing providers built for immense AI workloads—has been
beaten in recent weeks over concerns that these companies will be unable to
borrow money to fund their infrastructure buildout.
Elon
Musk’s SpaceX and Tesla Motors, meanwhile, both suffered steep losses.
Several
major U.S. tech stocks are officially in a bear market, meaning down by at
least 20 percent from their recent peaks.
The
sell-off occurred despite a solid third-quarter earnings season, as a majority
of S&P 500 companies that have reported their financials have beaten
expectations.
The
market narrative has ostensibly shifted from “AI changes everything” to “Blue
wave means data centers will never be built again in this country,” said Chris
Zaccarelli, chief investment officer for Northlight Asset Management.
“We do
agree that sentiment has shifted and building data centers will become more
difficult, but if there is a productive business case for building them, then
they will get built—and Artificial Intelligence will continue to be a more
important part of the technology solutions that businesses use every day,”
Zaccarelli told The Epoch Times in an emailed note.
The
situation is a lot more “nuanced” than the market’s behavior, he added.
Leverage
and Sentiment
The
sell-off stems from record leverage and weakening market sentiment, according
to popular financial newsletter The Kobeissi Letter.
“Sentiment
is the ultimate driver of price,” it said on X.
“For
months, we have been commenting on the historic levels of leverage in today’s
markets. This is precisely what happens when sentiment reverses in an
overleveraged market.”
Margin
debt—the amount investors borrow from their brokerage accounts—was the second-highest
level on record in September, according to Financial Industry Regulatory
Authority data. Margin debt was $1.48 trillion, up from $1.45 trillion in the
previous month.
Traders
sought shelter from the red ink by rotating into U.S. Treasury bonds. Yields
were mostly red across the board, with the benchmark 10-year sliding below 4.84 percent.
Gold and silver prices were mixed. The yellow
metal ticked up by 0.8 percent and silver declined by 0.7 percent.
Wall Street will turn its attention to
employment data on Nov. 6 as the October jobs report will be released.
Economists are penciling in a gain of 65,000 new jobs and an
unemployment rate of 4.2 percent.
Connecting
the Dots:
Deborah L.
Wince-Smith was a director at Nasdaq Inc., a director at the NASDAQ
Stock Market Inc. and is a member of the Belizean Grove.
NASDAQ
Stock Market Inc. is the former name of Nasdaq Inc.
Merit E. Janow was
a director at the NASDAQ Stock Market Inc. and is a member of the Belizean
Grove.
Henrietta
Holsman Fore is a member of the Belizean Grove and a trustee at the Aspen
Institute (think tank).
Belizean_Grove
is the equivalent to the male-only social group, the Bohemian Club.
Henry
A. Kissinger was a member of the Bohemian Club and a lifetime
trustee at the Aspen Institute (think tank).
Foundation to Promote Open Society was a funder for the Aspen
Institute (think tank).
George Soros was the chairman for the Foundation
to Promote Open Society.
Carnegie
Corporation of New York was a funder for the Aspen Institute (think
tank) and a supporter for the American
Society for Muslim Advancement.
Andrew Carnegie
was the founder of the Carnegie Corporation of New York.
Walter Isaacson
was the president & CEO for the Aspen Institute (think tank), the
chairman & CEO for CNN and a director at the Bloomberg Family
Foundation.
Bloomberg
Family Foundation was a funder for the Aspen Institute (think tank).
Michael R. Bloomberg is the founder of the Bloomberg Family Foundation and a member of the Alfalfa Club.
Jeb Bush is a
director at the Bloomberg Family Foundation, a member of the Alfalfa Club and George H.W. Bush’s son.
Dianne Feinstein
was a member of the Alfalfa Club, a U.S.
Senate senator and
married
to Richard C. Blum.
Richard C. Blum
was married to Senator Dianne Feinstein and an honorary trustee at the Brookings
Institution (think tank).
Foundation to Promote Open Society was a funder for the Brookings
Institution (think tank).
George Soros was
the chairman for the Foundation to Promote Open Society.
Carnegie
Corporation of New York was a funder for the Brookings Institution
(think tank) and a supporter for the American
Society for Muslim Advancement.
Andrew Carnegie
was the founder of the Carnegie Corporation of New York.
Vernon
E. Jordan Jr. is an honorary trustee at the Brookings Institution (think
tank), a senior counsel at Akin, Gump, Strauss, Hauer & Feld, LLP,
and was the president of the Economic Club of Washington.
Akin,
Gump, Strauss, Hauer & Feld, LLP was the lobby firm for Nasdaq Inc.
David M.
Rubenstein is co-chairman for the Brookings Institution (think
tank), the president of the Economic Club of Washington, a
co-founder & co-CEO for the Carlyle Group and the president
of the Alfalfa Club.
George H.W. Bush was
an adviser for the Carlyle Group, a member of the Alfalfa Club, Jeb Bush’s father
and a member of the Bohemian Club.
Jerome H. Powell (Jay) was
a partner at the Carlyle Group and the Chairman for the Federal
Reserve System.
Belizean_Grove
is the equivalent to the male-only social group, the Bohemian Club.
Deborah L.
Wince-Smith is a member of the Belizean Grove, was a director at the
NASDAQ Stock Market Inc. and a director at Nasdaq Inc.
Merit E. Janow is
a member of the Belizean Grove and was a director at the NASDAQ Stock
Market Inc.
NASDAQ
Stock Market Inc. is the former name of Nasdaq Inc.
Sonia Sotomayor a
member of the Belizean Grove, is a
justice for the U.S. Supreme Court and a member of the Phi
Beta Kappa Society.
Sandra Day
O'Connor was an associate justice for the U.S. Supreme Court
and
the president of the Alfalfa Club.
Belizean_Grove
is the equivalent to the male-only social group, the Bohemian Club.
George H.W. Bush was
a member of the Bohemian Club, a member of the Phi Beta
Kappa Society, a member of the Alfalfa
Club and Jeb Bush’s father.
Henry
A. Kissinger was a member of the Bohemian Club and a lifetime
trustee at the Aspen Institute (think tank).
Foundation to Promote Open Society was a funder for the Aspen
Institute (think tank) and the Brookings Institution (think tank).
George Soros was the chairman for the Foundation
to Promote Open Society.
Carnegie
Corporation of New York was a funder for the Aspen Institute (think
tank), the Brookings Institution (think tank) and a supporter for
the American Society for Muslim Advancement.
Andrew Carnegie
was the founder of the Carnegie Corporation of New York.
Walter Isaacson
was the president & CEO for the Aspen Institute (think tank), the
chairman & CEO for CNN and a director at the Bloomberg Family
Foundation.
Bloomberg
Family Foundation was a funder for the Aspen Institute (think tank).
David M.
Rubenstein was a benefactor at the Aspen Institute (think
tank), is the president of the Alfalfa Club,
a co-founder & co-CEO for the Carlyle Group, the president of
the Economic Club of Washington, co-chairman for the Brookings
Institution (think tank).
George H.W. Bush was
a member of the Alfalfa Club, an
adviser for the Carlyle Group, Jeb Bush’s father and a
member of the Bohemian Club.
Jerome H. Powell (Jay) was
a partner at the Carlyle Group and the Chairman for the Federal
Reserve System.
Edward J. Mathias is
a managing director at the Carlyle Group and a director at
the Economic Club of Washington.
Vernon
E. Jordan Jr. was the president of the Economic Club of Washington, is
an honorary trustee at the Brookings Institution (think tank) and a
senior counsel at Akin, Gump, Strauss, Hauer & Feld, LLP.
Akin,
Gump, Strauss, Hauer & Feld, LLP was the lobby firm for Nasdaq Inc.
Deborah L.
Wince-Smith was a director at Nasdaq Inc., a director at the NASDAQ
Stock Market Inc. and is a member of the Belizean Grove.
NASDAQ
Stock Market Inc. is the former name of Nasdaq Inc.
Merit E. Janow was
a director at the NASDAQ Stock Market Inc. and is a member of the Belizean
Grove.
Henrietta
Holsman Fore is a member of the Belizean Grove and a trustee at the Aspen
Institute (think tank).
Belizean_Grove
is the equivalent to the male-only social group, the Bohemian Club.
Henry
A. Kissinger was a member of the Bohemian Club and a lifetime
trustee at the Aspen Institute (think tank).
Foundation to Promote Open Society was a funder for the Aspen
Institute (think tank).
George Soros was the chairman for the Foundation
to Promote Open Society.
Carnegie
Corporation of New York was a funder for the Aspen Institute (think
tank) and a supporter for the American
Society for Muslim Advancement.
Andrew Carnegie
was the founder of the Carnegie Corporation of New York.
Walter Isaacson
was the president & CEO for the Aspen Institute (think tank), the
chairman & CEO for CNN and a director at the Bloomberg Family
Foundation.
Bloomberg
Family Foundation was a funder for the Aspen Institute (think tank).
Michael R. Bloomberg is the founder of the Bloomberg Family Foundation and a member of the Alfalfa Club.
Jeb Bush is a
director at the Bloomberg Family Foundation, a member of the Alfalfa Club and George H.W. Bush’s son.
Dianne Feinstein
was a member of the Alfalfa Club, a U.S.
Senate senator and
married
to Richard C. Blum.
Richard C. Blum
was married to Senator Dianne Feinstein and an honorary trustee at the Brookings
Institution (think tank).
Foundation to Promote Open Society was a funder for the Brookings
Institution (think tank).
George Soros was
the chairman for the Foundation to Promote Open Society.
Carnegie
Corporation of New York was a funder for the Brookings Institution
(think tank) and a supporter for the American Society for Muslim
Advancement.
Andrew Carnegie
was the founder of the Carnegie Corporation of New York.
Vernon
E. Jordan Jr. is an honorary trustee at the Brookings Institution (think
tank), a senior counsel at Akin, Gump, Strauss, Hauer & Feld, LLP,
and was the president of the Economic Club of Washington.
Akin,
Gump, Strauss, Hauer & Feld, LLP was the lobby firm for Nasdaq Inc.
Resources:
Past Research
Donald
Trump: People Should Sue ABC for Stock Market Crash Triggered by Fake News (Past Research on the Nasdaq Inc)
Monday,
December 4, 2017
https://thesteadydrip.blogspot.com/2017/12/donald-trump-people-should-sue-abc-for.html
Saudi
Arabia’s Richest Man With Ties to Barack Obama Thrown in Jail (Connecting the
Dots: Prince Alwaleed Bin Talal Center for Muslim-Christian Understanding
(ACMCU), Ritz Carlton, Prince Alwaleed bin Talal, Cosmos Club, Senator Abdul
El-Sayed, The Paul & Daisy Soros Fellowships for New Americans & The
Carnegie/Soros Network) (Past Research on the Carnegie
Corporation of New York)
Sunday,
November 8, 2026
https://thesteadydrip.blogspot.com/2026/11/saudi-arabias-richest-man-with-ties-to.html
Jeb
Bush: Michael Bloomberg A ‘Good Man’ And A ’Patriot’ (Past
Research on Jeb Bush)
Sunday,
January 24, 2016
https://thesteadydrip.blogspot.com/2016/01/jeb-bush-michael-bloomberg-good-man-and.html
Supreme
Court Removes Block on Judgment Involving Late Filipino Leader’s $40 Million
(Connecting the Dots: Supreme Court Justice Sonia Sotomayor, The U.S. Supreme
Court Justice’s, Their Secret Societies, Merrill Lynch, The Philippines &
Soros Funding, All Networking) (Past Research on Sonia
Sotomayor & the Belizean Grove)
Tuesday,
November 18, 2025
https://thesteadydrip.blogspot.com/2025/11/supreme-court-removes-block-on-judgment.html
Kevin
Warsh Sworn In as Fed Chair (Connecting the Dots: Kevin Warsh, Jerome Powell,
Federal Reserve, Booz Allen Hamilton, The Carlyle Group, George H.W. Bush,
Cravath, Swaine & Moore, Barack Obama, Salon, George W. Bush & The
Carnegie/Soros Network) (Past Research on the Carlyle
Group)
Saturday,
May 30, 2026
https://thesteadydrip.blogspot.com/2026/05/kevin-warsh-sworn-in-as-fed-chair.html
WH:
Smithsonian 'Woke' Purge to Expand to Other Museums (Connecting the Dots: The
Smithsonian Institution, Museums, National Zoo, Pelosi, David Rubenstein, Joe
Biden, Mike Pence & Soros Funding, All Networking) (Past Research on David Rubenstein)
Wednesday,
August 20, 2025
https://thesteadydrip.blogspot.com/2025/08/wh-smithsonian-woke-purge-to-expand-to.html
Alfalfa Club
https://en.wikipedia.org/wiki/Alfalfa_Club
David
Rubenstein is the
president of the Alfalfa Club.
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