The U.S. stock market is looking at a mixed opening on Nov. 6, a day after all three of the major indices suffered significant losses.
The blue-chip Dow Jones Industrial Average is down another 500 points after a decline of more than 1,800 points a day earlier.
The benchmark S&P 500 is looking at a modestly higher opening of 0.33% following a 4.36% decline the previous day.
And the technology-laden Nasdaq Composite index is up 450 points, or 1.70%, after losing more than 5% of its value in the previous trading session.
In all, Nov. 5 was the worst day for the U.S. market since President Donald Trump announced his “Liberation Day” tariffs in April 2025, with $2.5 trillion U.S. in equity value wiped out.
Investors found almost nowhere to hide during the selloff as all 11 sectors of the S&P 500 fell deep into the red and the entire market collapsed.
The Russell 2000 index of small-cap stocks fell 4.45% on Nov. 5 to finish trading at 2,729.89.
Both the Russell 2000 and Nasdaq Composite fell into a correction, defined as a decline of 10% or more from recent highs.
The catalyst for the broad-based selloff appears to be renewed concerns about the durability of the artificial intelligence (A.I.) trade.
Investor worries seem to be amplified after the left-leaning Democratic Party took control of the House of Representatives and Senate in the midterm congressional elections on Nov. 3.
The decisive win by the Democrats has raised questions about future regulation and bans on the construction of A.I. data centres, potentially slowing growth of the technology.
The conservative Republican Party of President Trump is typically seen as more pro-business than the Democrats.
Democrats also won several gubernatorial races across the U.S., including in Texas where 25% of the country’s A.I. data centres are scheduled to be built.
The S&P 500 index is now up 7% on the year following the Nov. 5 downturn.
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