Nasdaq Composite: 5.52% Rout Puts Index in Correction Territory
Published on 11/06/2026 at 13:06 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSNasdaq Composite outlook after Thursday's rout
- The Nasdaq Composite closed at 24,315.00 points on Thursday, November 5, down 5.52 percent.
- The decline pushed the index into correction territory, with AI and semiconductor stocks leading the sell-off.
- Nasdaq futures pointed to an initial rebound before the US session, while investors awaited the October employment report.
- The Bureau of Labor Statistics scheduled the employment report for 8:30 a.m. Eastern Time on Friday.
The Nasdaq Composite is heading into Friday's US session after its sharpest one-day decline in 19 months. The index closed at 24,315.00 points on Thursday, November 5, down 5.52 percent from the previous close. The European midday outlook therefore starts from a completed US session rather than a live Nasdaq cash-market reading.
AI and semiconductor stocks drive the decline
According to Reuters, published by U.S. News, Thursday's losses followed concerns that the Democrats' midterm election victory could lead to tougher regulation of artificial intelligence and slow the construction of data centers. Nvidia fell 9.26 percent, while the Philadelphia Semiconductor Index lost more than 12 percent, according to the report.
The sell-off also affected large technology companies and businesses supplying data-center infrastructure. The Nasdaq Composite finished more than 10 percent below its October 6 record close, meeting the commonly used definition of a market correction. This threshold describes the index's distance from its recent high; it does not by itself indicate the likely direction of the next session.
Futures point to a tentative rebound
Early Friday trading pointed to some stabilization after the rout. Reuters reported that, at 4:14 a.m. Eastern Time, Nasdaq 100 E-mini futures were up 1.48 percent, while Nvidia was 3.6 percent higher in premarket trading. Other chip stocks, including AMD, Intel, Broadcom and Micron, were also recovering part of their previous losses. These are futures and premarket indications, not a confirmed move in the Nasdaq Composite itself.
Employment report is the next scheduled test
The next major scheduled US market event is the October Employment Situation report. The U.S. Bureau of Labor Statistics calendar lists its release for 8:30 a.m. Eastern Time on Friday, November 6. The data could influence expectations for monetary policy and may add volatility after Thursday's technology-led retreat.
For continuing coverage of the index, see the Nasdaq Composite topic page.
