Today’s Stock Market Update
What’s happening today on November 10, 2026:
After last Wednesday’s leap, and then reversal on Thursday, you might wonder if anyone can figure out the minds of investors on US exchanges. And this week, the bipolar mood of the market is up and down. This morning, markets launched, but now, at midday, after the October CPI report, they’re plunging again.
- Headline CPI: Rose 0.4% in October (seasonally adjusted).
- Core CPI: (All items less food and energy) rose 0.3% in October (seasonally adjusted).
The top news this past week and today revolves around Democrats desire to regulate AI and what their real economic and political intent is. They have little power against President Trump’s veto power at the Federal level, but they gained considerable ability at the state level to regulate, hamper, tax and harrass AI companies. This deters investment in AI which is pivotal for US leadership in business and industry. Since the AI foundation has been building for sometime now, any blocking of it across important states such as Texas is alarming. It could leave the US vulnerable to a marked downturn, and give China a new upper hand in the global economy.
Texas was the Republican stronghold accounting for massive infusion of capital for advanced technology products including AI data centers, power generation, and automation/robotics.
The featured personal attacks on AI leaders Jensen Huang and Elon Musk this week communicate Democrat intent fairly well. It’s clear, the Democrats are making it personal and intend to throw a wrench into the big US AI machine. The implications are broad and look like they’ll hinder the performance of the US economy going forward. Taxes and regulations are two keys of the Trump economic transformation. President Trump can keep his Pro-USA ship sailing and disregard the Dem regulation and tax gambit, but likely the public will blame him for this downturn.
It’s unlikely Trump will erase the import tariffs and will continue with steep tax breaks to keep the record amount of capital investment flows into the US. But the Democrat effects in key states will play on the minds of investors in US companies and make them reluctant. The likely strategy is for Trump to encourage investment in those states who want the AI capital infusion and the jobs that come with that. That’s going around the new barriers.
Analysts Tom Lee and Mike Wilson are reiterating their belief that the stock market is hitting its bottom. That suggests the economy will roll on despite the animosity and reactive activities between President Trump and the Democrats. We await President Trump’s response.
Democrat Mid Term Sweep Effects Continue to Unfold
As you’re aware, the Democrats swept the US mid-term elections as voters had a temper tantrum toward President Trump. Now, a week after the big Dem win, investors realize the risk to the US economy.
AI stocks have been sliding hard and it’s bringing down the entire stock market. Suddenly the tech equities outlook has darkened and fear is spreading quickly. It’s going from “AI is overpriced” to AI is about to be taken apart. The antipathy to AI has been building all this year as it’s cost is hard to comprehend and justify, its threat to US employment, and given the low immediate profit returns. The sector is vulnerable and AI stocks are plummeting.
There is considerable anti-AI antipathy and some will be celebrating this loss, but they’re not aware of what’s fully at stake. Experts believe AI is essential, and the US cannot fall behind China in the AI race. But further, it’s impossible to reverse the AI trend for business, industry, education, and everything else it’s been applied to. In the end, today’s reactionary drop must reverse, providing some tech stock buyers with unbelievable returns on these bargain basement stocks being created. And we may not yet be seeing the bottom. There isn’t anyone to reassure and bring stability. The fight between the Trump and the Democrats is just starting.
For investors hoping for their dream “buy the dip” moment, it looks like the mother of all opportunities for winfall profits — if the US economy holds steady. And investors will begin wondering about that today too.
“Investors may be reacting to a fundamental change in the political and regulatory outlook for American business, not merely an overpriced AI sector.”
Reuters reported on November 5 that the Democrats’ November 3 victory, giving them control of both chambers of Congress, had raised concerns about tougher AI regulation and restrictions on data-center construction. UBS estimates that approximately 30% of planned U.S. data-center capacity additions for 2028 could be exposed to construction delay. That might be a biased report however, because there is much more at risk than a construction delay.
The FED recession indicator is running at zero, strangely. Perhaps it doesn’t read the news.
The looming battle and the attempted takedown of Donald Trump and AI together could literally lead to a major stock market crash and the kind of recession that Jeremy has been warning us about for 20 years. Today is likely only the first day of collapse as the Democrats begin announcing their political policies and intentions. None of that looks good for the stock market outlook for the next week, next 3 months, or for the next 5 years.
What’s the emotion driving this correction today:
A fear of a reversal in the pro-investment policy environment, particularly affecting AI infrastructure, energy, technology and corporate capital spending.
Even if President Trump vetos Democrat bills, they can create significant friction and tie up the government leaving it in a state where not much can get done. Some insitutional investors liked that idea, where threats were under control. Today, they’ve had a wake up call, about how vulnerable the AI-powered and invested US economy is.
Losses today on paper are more than $5 Trillion.
Are We Headed for a Reversal of the Trump Bump?
AI Stock Crash, Midterm Election Fallout and the Stock Market Outlook
November 5, 2026 | Market update: 9:57 a.m. ET
Wall Street’s AI-led bull market is facing a serious test. Technology stocks are plunging, trillions of dollars in market value have disappeared, and investors are reconsidering the economic and political environment that helped drive U.S. stocks higher during President Donald Trump’s second term.
The question is becoming increasingly important: Are we witnessing the beginning of a reversal of the Trump bump?
Have the Democrats Really Changed the Investment Outlook?
The November 3 midterm elections delivered Democratic control of both chambers of Congress, introducing new uncertainty about the Trump administration’s pro-investment agenda.
Investors are particularly concerned about tougher AI regulation, restrictions on data-center development, and the possibility of political conflict over federal spending and economic policies.
Construction delays could sabotage not only growth, but profitable delivery of current AI computing delivery. UBS estimates that construction delays could threaten approximately 30% of planned U.S. data-center capacity additions in 2028. The possibility of slower AI infrastructure development is especially troubling because AI capital investment has become an important contributor to U.S. economic expansion.
Yet the market’s political reaction is not entirely negative. Stocks rallied strongly on November 4 as investors welcomed reduced election uncertainty and the prospect of legislative gridlock. Thursday’s reversal suggests that earnings and AI investment concerns remain powerful influences.
How Much of the Trump Bump Remains?
Despite the recent losses, both major indexes remain substantially above their levels on January 21, 2025, the first trading day following Trump’s inauguration.
At Thursday morning’s market snapshot:
- S&P 500: Approximately 25% higher.
- Nasdaq Composite: Approximately 26% higher.
However, the Nasdaq has declined nearly 10% from its October 6 peak, showing how quickly confidence in technology valuations can deteriorate.
Will the Stock Market Keep Falling?
The immediate market direction is negative, but a complete reversal of the post-inauguration gains is not yet established. Investors should monitor semiconductor earnings, AI spending commitments, congressional regulatory initiatives, Treasury yields and whether selling spreads beyond technology.
Friday’s employment report could provide another catalyst.
The central risk for 2027 is that slower AI investment, more restrictive business conditions and persistent financing costs could weaken corporate growth simultaneously.
The Trump bump disappeared yet, however its durability is now being tested under pressure. The next several weeks could reveal whether this is an AI-sector correction or the beginning of a broader U.S. stock market downturn.
Could Excessive Debt and Leverage Trigger a Bigger Market Crash?
Even more risk is exposed: One of the greatest risks in today’s stock market selloff is the enormous amount of debt and leverage supporting AI infrastructure investments, corporate expansion and speculative stock purchases. With borrowing costs elevated, heavily indebted companies face rising financing expenses just as their stock valuations and growth expectations are falling. The Bank of England has warned that AI infrastructure’s growing dependence on debt and private credit creates financial stability risks. As long as everyone is all in on the AI boom, then the US economy and stock markets should be fine. But Europe is not necessarily all aglow about US domination of AI and how investment funds are flowing to the US boom.
Meanwhile, investors using margin loans can face forced liquidations when stock prices plunge, triggering additional selling and accelerating losses. Highly leveraged AI companies could face refinancing difficulties, project cancellations, credit downgrades or defaults, spreading losses to banks, private lenders and institutional investors. Reuters reported in October that CoreWeave’s debt was already showing signs of significant distress.
The danger is a cascading debt-and-liquidity crisis: falling stock prices trigger forced selling, tightening credit restricts business investment, and financial stress spreads into the broader economy. This is not yet an established systemic crisis, but it is a critical risk investors should monitor as the AI stock correction deepens
Today’s Biggest AI and Technology Stock Losses
| Company | Symbol | Price | Decline | Comments |
|---|---|---|---|---|
| Vertiv | VRT | $174.44 | −15.14% | Data-center power and cooling; exposed to construction slowdowns. |
| Keel Infrastructure | KEEL | $1.715 | −18.33% | Transitioning from Bitcoin mining to AI data centers; lease and permitting risks. |
| Nebius Group | NBIS | $117.52 | −16.96% | AI cloud infrastructure; capital-intensive expansion. |
| IREN | IREN | $17.81 | −17.94% | AI computing and data centers; infrastructure financing concerns. |
| Lumentum | LITE | $529.52 | −15.51% | Optical communications for AI networks; earnings due after close. |
| Nvidia | NVDA | $182.74 | −8.69% | Leading AI chip supplier; major influence on technology indexes. |
| AMD | AMD | $413.80 | −15.34% | AI GPUs and processors; demand and valuation reassessment. |
| Micron Technology | MU | $679.42 | −14.56% | High-bandwidth memory; vulnerable to AI spending expectations. |
| Arm Holdings | ARM | $167.58 | −12.63% | Semiconductor IP licensing; pressure on growth expectations. |
| Qualcomm | QCOM | $151.76 | −12.37% | Smartphone chip outlook disappointed investors. |
| Dell Technologies | DELL | $318.05 | −14.59% | AI servers and enterprise hardware; spending concerns. |
| CoreWeave | CRWV | $42.02 | −13.22% | AI cloud provider; capital spending and financing exposure. |
| Applied Digital | APLD | $13.52 | −18.60% | AI data-center development; project approval uncertainty. |
| Core Scientific | CORZ | $10.88 | −14.73% | Data-center hosting and AI computing conversion. |
| Cipher Digital | CIFR | $5.28 | −18.77% | Digital infrastructure; sensitive to project economics. |
| TeraWulf | WULF | $9.77 | −16.50% | Digital infrastructure and AI data-center expansion. |
| Bloom Energy | BE | $162.33 | −19.00% | On-site electricity generation; tied to data-center growth. |
| Astera Labs | ALAB | $184.18 | −17.51% | Connectivity chips for AI servers and racks. |
| Sandisk | SNDK | $839.90 | −19.04% | Flash memory; technology hardware valuations under pressure. |
| Western Digital | WDC | $271.60 | −16.13% | Data storage; exposed to infrastructure spending expectations. |
| Seagate Technology | STX | $471.31 | −15.39% | Mass-capacity storage for cloud and AI workloads. |
| Marvell Technology | MRVL | $139.21 | −12.88% | Custom AI silicon and networking chips. |
| Coherent | COHR | $165.58 | −15.13% | Optical components and photonics for AI networks. |
| Ciena | CIEN | $230.59 | −15.30% | Optical networking; cloud infrastructure demand risk. |
| Credo Technology | CRDO | $115.54 | −15.36% | High-speed connectivity for AI server clusters. |
| Applied Optoelectronics | AAOI | $47.38 | −20.06% | Optical transceivers; sensitive to hyperscaler demand. |
| Celestica | CLS | $201.99 | −14.56% | AI networking and hardware manufacturing. |
| MACOM Technology | MTSI | $191.60 | −17.82% | Semiconductor components for communications infrastructure. |
| Tesla | TSLA | $343.63 | −10.79% | Large-cap growth stock; valuation and risk sentiment. |
| MercadoLibre | MELI | $1,482.87 | −14.77% | E-commerce and fintech; profit disappointment adds to decline. |
Sources: WeeklyTrader market losers; Keel quote; Nvidia quote; Tesla quote; Dell quote. Comments describe business exposure or reported catalysts; they are not all confirmed explanations for individual price movements.
TESLA Real Time
Google Stock Real Time
Amazon Stock Real Time
There’s a number of investing sites and data sources which help you get quotes on today’s prices and more on the current status of the S&P 500, Dow Jones, and NASDAQ. See more on Facebook stock, Google stock and Tesla stock.
Top Stocks Overall Today
Find more insight into what’s going on in the stock market this week, be sure to check out the stock market predictions post and the best stocks to buy now posts. There you’ll find the key issues driving the market right now and what will influence it this week, 3 months from now and next year. Yahoo Finance has a broad array of stock market information including real time tickers and economic news.
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