Nasdaq-100 suffers worst day since 2020 as tech stocks slide

U.S. technology stocks fell sharply on November 5, with the Nasdaq-100 dropping 6.36% in its worst session since March 2020 and the Nasdaq Composite losing 5.52% to enter correction territory. Semiconductor shares and companies tied to artificial-intelligence infrastructure led the declines, which spread across the broader market. The Nasdaq Composite closed at 24,315, about 12% below its October 6 record close. The S&P 500 fell 4.35%, while the Dow Jones Industrial Average shed 1,833.06 points, or 3.44%. All 30 Dow stocks ended lower, and Nasdaq decliners outnumbered advancers by more than six to one, according to reported closing data. Nvidia shares fell 9.26% and Tesla dropped 10.77%. The Philadelphia Semiconductor Index declined more than 12%, while losses also hit data-center operators, equipment suppliers and power companies. Apple fell 1.53%, a smaller decline than those of the major technology indexes. Market participants and analysts attributed part of the selloff to concern that Democratic gains in the November 3 midterm elections could lead to tighter scrutiny of artificial intelligence projects or delays in data-center construction. That explanation remains an...