US Market Wrap 5 November: Early Session, the Nasdaq 100 Falls 4.79% as Tech Shares Slide
Published at 15:44 GMT.
All five US indices we track were trading lower about an hour into Thursday’s session, with the S&P 500 down 2.70%. The Nasdaq 100 fell furthest, losing 4.79% in quotes timed at 15:41 GMT.
CNBC reported that investors rotated away from technology stocks and into more defensive areas of the market, on fears that the Democratic sweep of both chambers of Congress could bring more regulation of the artificial intelligence buildout. Within the S&P 500, information technology fell furthest with a 5.31% loss, while consumer staples led the sectors with a 1.29% gain.
Wall Street in early trading
| Index | Level | Change |
|---|---|---|
| Dow Jones Industrial Average | 52,465.72 | -1.67% |
| Russell 2000 | 2,799.78 | -2.00% |
| S&P 500 | 7,481.27 | -2.70% |
| Nasdaq Composite | 24,658.53 | -4.19% |
| Nasdaq 100 | 27,074.42 | -4.79% |
Intraday quotes at 15:41 GMT, the Russell 2000’s at 15:24 GMT, about an hour into the session; snapshots, not closes, measured against the prior session’s closes as published and ranked by change.
What to watch: The US Bureau of Labor Statistics releases the October employment report on Friday 6 November at 13:30 GMT.
Levels are from the price feed, measured against the prior session’s closes as published; percentages and counts not attributed to a source are The Edge’s calculations.
How these wraps are prepared: Methodology.
Sources: CNBC, US Bureau of Labor Statistics, The Edge.
