A dated record of the Nov 5, 2026 selloff: each index against its record close, how the day ranks in history, what fell, and the reasons offered. Market prices run through the Nov 5, 2026 close; historical samples and scheduled events have their own dates.
Market risk reading, cross‑asset context and an events calendar: see Exent →
On Nov 5, 2026 the S&P 500 fell 4.36% and the Nasdaq‑100 6.36%; by the usual definitions, as of that close, the S&P 500 is not in a correction, the Nasdaq‑100 is, and chips are in a bear market. “Crash” has no fixed definition, so the answer depends on which part of the market you own.
| Index | Nov 5 move | Nov 5 close | Record close | Below record | Label at the Nov 5 close |
|---|---|---|---|---|---|
| Dow | −3.44% | 51,523.06 | 54,349.12 (Aug 5, 2026) | −5.20% | Dip |
| S&P 500 | −4.36% | 7,353.73 | 7,818.93 (Oct 6, 2026) | −5.95% | Dip |
| Russell 2000 | −4.45% | 2,729.89 | 3,068.42 (Aug 14, 2026) | −11.03% | Correction |
| Nasdaq Composite | −5.52% | 24,315.00 | 27,599.79 (Oct 6, 2026) | −11.90% | Correction |
| Nasdaq‑100 | −6.36% | 26,629.81 | 31,224.69 (Oct 6, 2026) | −14.72% | Correction |
| Chip index (PHLX Semiconductor) | −12.25% | 9,011.14 | 14,634.72 (Jun 22, 2026) | −38.43% | Bear market |
Index closes as of Nov 5, 2026, Exent market data, price only. A dip here is under 10% below the record close, a correction is 10% to 19.9%, and a bear market is 20% or more. These lines are conventions, explained in correction vs bear market.
All six were still higher for 2026 as of the Nov 5 close: the Dow by 7.20%, the S&P 500 by 7.42%, the Russell 2000 by 9.99%, the Composite by 4.62%, the Nasdaq‑100 by 5.47% and the chip index by 27.22%.
This is the Nasdaq‑100’s third correction of 2026. The first two crossed the 10% line on Mar 27 and Jul 29, and this one on Nov 2. Every earlier one is listed in Nasdaq‑100 corrections since 1985.
These tables show how far prices fell, not what comes next. Exent gives you one market risk reading (Risk ON, Neutral or Risk OFF) and emails you when it changes.
Large, but not a record: the S&P 500’s fall was its worst day since April 2025, and the Nasdaq‑100’s its worst since March 2020. Ranks are by percent move, as of the Nov 5, 2026 close.
| Index | Window | Rank of the Nov 5 fall | Last worse day |
|---|---|---|---|
| S&P 500 (−4.36%) | Since Jan 3, 1967 | 43rd worst of 15,061 | Apr 4, 2025 (−5.97%) |
| Nasdaq‑100 (−6.36%) | Since Feb 1, 1985 | 32nd worst of 10,521 | Mar 16, 2020 (−12.19%) |
The chip index’s −12.25% was its worst day since Mar 16, 2020 (−15.90%). Bigger market‑wide falls are listed in the history of stock market crashes, and how often they happen in how often the stock market crashes.
All 11 S&P 500 sector funds fell, but technology fell far more than the rest. Moves are close to close, Nov 4 to Nov 5, 2026.
| Fund | What it holds | Nov 5 move |
|---|---|---|
| XLK | Technology | −8.00% |
| XLI | Industrials | −4.12% |
| XLY | Consumer discretionary | −3.83% |
| XLE | Energy | −2.98% |
| XLB | Materials | −2.91% |
| XLF | Financials | −2.87% |
| XLV | Health care | −2.50% |
| XLRE | Real estate | −1.82% |
| XLP | Consumer staples | −0.75% |
| XLU | Utilities | −0.71% |
| XLC | Communication services | −0.59% |
The biggest stocks took more of the fall. SPY, which weights by company size, lost 4.41%. RSP, which holds each S&P 500 stock at the same weight, lost 2.89%. QQQ lost 6.49%. The gap is wider over the whole slide: from the Oct 6 close to the Nov 5 close, SPY fell 5.92% and QQQ 14.82%, while RSP rose 2.14% (price only). Why the two ways of weighting diverge is in equal weight vs cap weight.
Outside stocks, the moves were small. The gold fund GLD closed up 0.81%. The 10‑year Treasury yield closed at 4.84%, from 4.90% on Nov 4. How these assets have behaved on other bad days is in what goes up when stocks go down.
No single trigger is established. What is documented is where the selling landed: chips and technology fell most, and larger stocks fell more than the average stock. The reasons below were offered the same day. They are explanations, not measurements, and nobody has shown how much each one mattered.
| Reason offered | Who said it | Status |
|---|---|---|
| Fear of a slower AI data‑center buildout, tied to the Nov 3 midterm results, local votes against data‑center projects, rising interest rates and heavy capital needs | CNBC, Nov 5 | Proposed. The S&P 500 rose 1.58% on Nov 4, the first session after the vote |
| Qualcomm’s disappointing forecast for the current quarter “contributed to the selloff” | CNBC, Nov 5 | Proposed. The forecast itself is reported fact; its share of the fall is unknown |
| Forced selling by systematic and leveraged strategies, and a “buyers’ strike” among institutions | Viraj Patel, Vanda Research, in Yahoo Finance, Nov 5 | Proposed, not sized |
| Hedge funds rushing to protect 2026 gains | Yahoo Finance, citing Charlie McElligott, Nomura, Nov 5 | Proposed, not sized |
Sources: CNBC and Yahoo Finance, both Nov 5, 2026. For the longer view of the midterm calendar, see stocks after midterm elections.
The results varied widely, and the sample is small. These are index‑level base rates through Nov 4, 2026. Nov 5, 2026 is excluded, because none of its later windows had happened at the data cutoff. Windows overlap; these are not current odds.
S&P 500, falls of 4% or more since 1967. There were 53 such days, the first on Sep 11, 1986. They group into 22 episodes: the first drop of a cluster, with a new episode after more than 21 trading days without one.
| Trading days after the drop | Cases ending higher | Median price return | Worst end‑of‑window return (start date) |
|---|---|---|---|
| 1 | 15 of 22 | +1.39% | −20.47% (Oct 16, 1987) |
| 5 | 13 of 22 | +1.30% | −12.20% (Oct 16, 1987) |
| 21 | 12 of 22 | +0.95% | −16.32% (Sep 15, 2008) |
| 63 | 20 of 22 | +6.57% | −26.24% (Sep 15, 2008) |
For comparison, across all sessions since 1967 the S&P 500 was higher after 21 trading days 61.3% of the time (median +1.10%) and after 63 trading days 66.2% (median +2.68%).
Nasdaq‑100, falls of 6% or more since Feb 1, 1985. There were 37 such days, and 22 of them came in 2000 to 2002. A shorter window from Dec 20, 2006 holds only 8 such days from four crises and looks far better, because it leaves out the dot‑com bust.
| Trading days after the drop | Cases ending higher | Median price return | Worst end‑of‑window return (start date) |
|---|---|---|---|
| 1 | 23 of 37 | +1.12% | −7.51% (Oct 19, 1987) |
| 5 | 23 of 37 | +2.14% | −17.49% (Oct 19, 1987) |
| 21 | 24 of 37 | +9.06% | −27.03% (Feb 16, 2001) |
| 63 | 25 of 37 | +8.71% | −36.14% (Jan 5, 2001) |
Across all sessions since 1985 the Nasdaq‑100 was higher after 21 trading days 62.6% of the time (median +1.61%) and after 63 trading days 69.3% (median +4.65%).
These samples are small and clustered, and the windows overlap inside each crisis. They describe the past. They are not a forecast and they do not say which kind of episode this one is. How long full recoveries took is in how long markets take to recover from a crash.
Four dated events come next. This page was written before the first of them, so it holds no result and no guess.
| Date | Event | Note |
|---|---|---|
| Fri, Nov 6, 8:30 a.m. ET | October jobs report (BLS) | Result not known when this was written |
| Tue, Nov 10 | October consumer price index (BLS) | Inflation reading |
| Tue, Nov 17, 5 p.m. ET | Nvidia third‑quarter results call | The biggest AI chip maker |
| Dec 8–9 | Federal Reserve meeting | The Fed held its target range at 3.75%–4.00% on Oct 28 |
One day’s closes cannot tell you. The ladder above shows how far prices fell. It does not show whether stress is spreading into credit, rates and the wider economy, which add context but do not establish how long a decline will last. That question is what Exent’s Market intel reads every day, for members.
Whatever the answer turns out to be, the questions below can be settled without it:
For the longer version, see how to write a market crash plan, what to do when the market is crashing and should I sell before a crash.
These tables show how far prices fell. They cannot say whether this is a normal pullback or a change in market risk. Market intel reads that every day; the current reading is for members.
As of the November 5, 2026 close, it depends on the index, because crash has no fixed definition. The S&P 500 fell 4.36% that day and sat 5.95% below its record, short of a correction. The Nasdaq-100 was in a correction at 14.72% below, and the chip index in a bear market at 38.43% below.
No single trigger is established. CNBC cited fear of a slower AI data-center buildout and a disappointing Qualcomm forecast. A Vanda Research strategist quoted by Yahoo Finance pointed to forced selling by systematic and leveraged strategies. These are attributed reasons, and none has been measured.
Yes, as of the November 5, 2026 close. The Nasdaq-100 closed at 26,629.81, 14.72% below its October 6 record of 31,224.69, and the Nasdaq Composite closed 11.90% below its record of 27,599.79. It is the Nasdaq-100’s third correction of 2026.
From the record close of 7,818.93, a 10% fall is 7,037.04 and a 20% fall is 6,255.14. From the November 5, 2026 close of 7,353.73, that is a further fall of 4.31% to reach a correction and 14.94% to reach a bear market.
A 20% fall from the record close of 31,224.69 is 24,979.75. From the November 5, 2026 close of 26,629.81, that is a further fall of 6.20%.
This page cannot tell you that; it is a dated record, not advice. Many investors decide from a plan written in advance: how much of a fall they can hold through, when they need the cash, and what would change their mind. The past drops shown here went both ways, so a single day’s close settles little.
Market intel provides a Risk ON / Neutral / Risk OFF reading from four pillars, cross-asset analysis, an events calendar and regular written notes. Context for reviewing a plan, not a crash forecast.
Educational content, not investment advice. Examples are illustrative; past performance does not guarantee future results.