Stocks slide as Wall Street's post-election rally fizzles
Yahoo Finance ·
Stocks slide as Wall Street's post-election rally fizzles Yahoo Finance Video Thu, November 5, 2026 at 4:42 PM EST SPCX -9.20% TSLA -11.59% ^RUT -4.45% AVGO -9.83% NVDA -8.91% Yahoo Finance Markets and Data Editor Jared Blikre breaks down all of today's market moves, which largely trended downward as markets reversed the gains and optimism from the blue wave rally. So the major indices in the Russell 2000, all tracking the worst day since uh April 2025. That was the big tariff sell-off day, but you mentioned the pandemic. We're going to mention chip stocks in a minute, so uh just wait for that. But you can see we started out in the green. Seemed like it was going to be another day, maybe a continuation rally from yesterday. Let's put the two-day view on the Dow, and you can see that has been erased. All of yesterday's gains. In the Nasdaq, we have a very similar story. Let me just put that back to a one day. You can see we closed basically at the lows of the day, off 5%, huge down day here. S&P 500, not far be-, excuse me, not far behind, down over 4% again at the lows. Even the equal weighted index, which uh is where every stock gets one vote and has been doing much better than the general market recently. Still better today, but it's down 3%. That is not a good day by any stretch. Small caps, no love there for small caps. We got those down 4 and a half percent, uh even midcaps down a little bit less, 3.85%. I'll show you quickly what's going on in the bond market. We got 10-year T-note yield. That is down six basis points. Remember when that was north of 5%? Seems like an eternity ago. But I want to get to some other stuff here because we got the VIX. VIX shot up to 27 about, 27 handle on the VIX. Wow. When was the last time we saw something like that, Jared? I'm glad you asked because let's take a look at this chart right here. Uh, the last time we saw the VIX like this was during the Iran war and here we have all those Iran war headlines in there. The market was acting like uh all the war premium was getting sucked out of the market yesterday. Well, guess what? We got a new risk premium being baked in and that is the AI sell off. The rubber is hitting the road right now. Uh, one more, let's actually let's get to some heat maps here. We'll first show you the uh let's go to the sector action for today. Everything in the red. Communication services uh the least bad off, but look at this. XLK down 8%. That is the worst day since the pandemic lows, March 2020. That's what we're talking about right there. And look at this, everything else was uh better than the S&P 500. So tech really doing a lot of the heavy lifting to the downside there or heavy dropping, however you want to phrase it. Here is the Nasdaq 100 heat map. You can see the generals here are getting taken out and shot. Nvidia down 9%, uh SpaceX down 9%, Broadcom down 10%, Tesla down 10%. and, you know, you take a look at the two days here for Tesla, that's down 13%. SpaceX down 12%. The green there shows you we are still looking at some gains since uh Monday close.
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