U.S. stocks fell sharply during trading on Thursday, November 5, reversing direction after the previous day’s rally. Technology shares were at the center of the decline as investors reconsidered the outlook for artificial-intelligence investment.

What the official Nasdaq reading showed

The official Nasdaq Composite page, checked at 2:03 p.m. Eastern Standard Time on November 5, displayed 24,386.96, down 1,349.55 points, or 5.24%, from the previous close of 25,736.51.

The page was dated November 5 but did not give a precise intraday quote time. The time above is when the page was checked. Trading was still underway, so this is a market snapshot rather than a closing result.

Why AI-related shares were in focus

Reuters linked the pressure on semiconductor and data-center shares to concerns about tighter oversight and a slower expansion of AI infrastructure after the midterm elections. Those explanations describe the concerns reported among investors, rather than a single proven cause for every price movement.

The selling also reached beyond technology. The Washington Post reported broad declines, including JPMorgan and Caterpillar, as the market gave back much of its post-election advance.

Keep the trading sessions separate

Wednesday, November 4, was a different session: Associated Press reported gains of 1.6% for the S&P 500 and 1.4% for the Nasdaq Composite, while the Dow rose more than 1,500 points. Thursday’s decline does not revise those completed results.

The indexes cover different groups of shares, so their percentage changes need not match. Nasdaq’s Composite tracks eligible common stocks listed on its exchange; S&P Dow Jones Indices describes the S&P 500 as a large-company benchmark covering about 80% of available U.S. market capitalization.

The remaining trading hours could change the final size of the losses. Readers comparing later reports should check both the session date and the time of the quoted figures.