November 5, U.S. stocks closed in deep negative territory as a punishing chip-led sell-off dragged benchmarks to their steepest one-day slump in months. The Dow Jones Industrial Average fell 3.44%, the S&P 500 lost 4.36%, and the Nasdaq Composite tumbled 5.52%, with semiconductor bellwethers plunging and investors rushing toward cash. The broad retreat left few havens as risk appetite faded sharply into the close.
Semiconductor heavyweights bore the brunt, while a rare software standout bucked the slide. Direxion Daily Semiconductors Bull 3x Shares (SOXL) falls 38.71%, Micron Technology (MU) drops 17.46%, Advanced Micro Devices (AMD) loses 17.26%, and Nvidia (NVDA) slides 9.26%. Tesla (TSLA) falls 10.77%, Microsoft (MSFT) declines 3.58%, and Apple (AAPL) slips 1.53% as megacaps retreat. Seeking protection, traders sent Direxion Daily Semiconductors Bear 3x Shares (SOXS) up 39.22%. Standing out, AppLovin (APP) jumps 31.04% to top the day’s gainers.
Smaller and overseas listings delivered additional fireworks. Antelope Enterprise (AEHL) rockets 178.15%, Studio City International (MSC) leaps 19.10%, Kaixin Auto (KXIN) climbs 14.80%, while GigaCloud Technology (GCT) adds 8.86% and NetEase (NTES) gains 4.37%. On the downside, NaaS Technology (NAAS) slumps 22.47%, United Microelectronics (UMC) falls 16.69%, and Bloom Energy (BE) slides 16.41%, underscoring ongoing volatility in high-beta pockets of the market.
